Kathmandu. Farmers complaining of shortage of chemical fertilizers every year is not new. The misery of chemical fertilizers is now new to farmers.
As soon as every agriculture minister comes, he promises not to allow shortage of chemical fertilizers. But the problem remains the same. The 63rd meeting of the Investment Board held on Tuesday discussed the issue of opening a fertilizer factory. The 63rd meeting of the Investment Board chaired by Prime Minister KP Sharma Oli has decided to review the final detailed feasibility study report on chemical fertilizer manufacturing factories in Nepal.
The plan to open a fertilizer factory is not a small plan. For this, 3 to 4 billion rupees will be required. The government’s public debt has crossed Rs 2.6 trillion. Finance Ministry officials say that the government should also properly calculate the return on investment before making a big investment.
The raw materials required for fertilizer factories are not available in the country. It is clear that the government has brought out the issue of fertilizer factories only to avoid criticism from the people. Because the returns from investing heavily in fertilizers are very low.
A meeting held at the Office of the Prime Minister and Council of Ministers, Singha Durbar, decided to form a task force to review and review the report received from Germany’s DIG Industries GmbH and recommend suitable alternatives.
The company had started the feasibility study of the fertilizer manufacturing plant with the decision of the board on July 1, 2018.
The meeting decided to take the proposal received regarding detailed study development and operation-management of Panchkhal Special Economic Zone Project to a competitive process as per the concept of Swiss Challenge.
The meeting also decided to form a taskforce to study the double tax exemption agreements and investment promotion agreements signed with different countries so far and submit a report to the board on signing the agreements with more countries.
Similarly, a committee has been formed to study the economic and technical aspects of the proposal received regarding the ‘Deep Sea Bed Mining’ project and submit a report to the Board.
The meeting has authorised the Board’s office to issue survey license of the project as per the proposal received regarding the study of ‘Green Hydrogen’ in Nepal and the establishment of industries.
Similarly, it has been decided to delegate some of the powers in the board to Chief Executive Officer Sushil Gyawali to carry out the work in a more quick and effective manner.
The meeting also recommended to the Government of Nepal to form a project review task force as per the provisions of the project development agreement of aruna-3 hydropower project under construction.
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