Kathmandu. Nepali Congress MP Binod Kumar Chaudhary has demanded immediate action against those who demand commission from the Securities and Exchange Board of Nepal (SEB) regarding the IPO issue. MP Chaudhary has demanded immediate action after irregularities were revealed in the Securities and Exchange Board of Nepal regarding the IPO of Hydropower.
Speaking at the meeting of the House of Representatives held on Friday, he said that while the Energy Minister and the MD of the Electricity Authority were doing good work, the Securities and Exchange Board of Nepal has done bad work.
He said, “Various things have come to the market regarding the funding of projects with a capacity of more than 5,000 PPAs, including the recent ones filed by the Authority. The government needs to intervene immediately.”
43 more projects are waiting for IPO approval at the Securities and Exchange Board of Nepal. About Rs. 22 billion have been filed. Equal. But the Securities and Exchange Board of Nepal has been withholding IPO approval for 22 months. Ganesh Karki, chairman of the Independent Power Producers Association of Nepal (IPPAN), had said that they were demanding 7 percent commission for small hydropower and 5 percent for large hydropower. IPPAN has submitted audio evidence of the middlemen demanding bribes (commission) using a special formula to the Commission for the Investigation of Abuse of Authority. The commission has already raided the board all day on Wednesday.
There is increasing pressure from all sides to take action against board chairman Santosh Narayan Shrestha. Billionaire MP Chaudhary has also demanded action against the board’s middlemen.
Speaking on a different topic, MP Chaudhary said that the discussion about the fund is going on and that MPs should be empowered, not funds. He reiterated that it is important to empower MPs to complete unfinished projects in their constituencies.
He said that even after 10 years of construction of a tank in the constituency, people were still unable to drink water due to lack of pipes, adding that there were many such examples. He opined that if an elected MP does not evaluate, monitor and strengthen the development plans in his area, and if the relevant ministry does not strengthen the hand of the relevant ministry in case of budget shortage, the development process cannot move forward in a systematic manner.
He added, “There is talk of MP funds, not funds, but empowerment of MPs. MPs should be empowered to complete the unfinished projects in their area. I can give many examples based on the experience of my constituency. It has been 10 years since the tank was built, people have not been able to drink water due to lack of pipes. But MPs have no role in that matter. If the elected MP does not continuously evaluate and monitor the development plans in their area, whether they are at the local, provincial or federal levels, if they do not strengthen their hand, if the relevant ministries do not strengthen their hand for the insufficient money, then the development process cannot move forward in a systematic manner. .”
He expressed concern over the daily migration of three thousand Nepalis abroad for employment and drew the serious attention of the government.
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