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Job opportunities for 50,000 youths in one year : YSESEF’s executive director

Gorkha Post

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KATHMANDU — Executive director for the Youth and Small Entrepreneur Self Employment Fund (YSESEF) Dr Bishnu Prasad Gautam has said employment opportunities would be created within next one year for 50,000 youths through the YSESEF itself.

“Cooperatives’ help and cooperation are the most for making youths become self-employed, through which one wanting to start his or her own business can get loan without collateral released by the YSESEF,” he said, while claiming that so far 45,000 youths have been made self-employed through the YSESEF.

Dr Gautam was addressing the 17th general assembly of Srijana Cooperative at Baganaskali rural municipality in Palpa on Saturday.

The YSESEF in the first phase will release up to Rs 5 million to each cooperative meant for youths wanting to start their own business.

In the second phase, a cooperative can receive up to Rs 7.5 million for the same purpose.

The YSESEF was established in 2065 BS with the purpose of helping youths start their own business by offering loan without collateral. A firm invested by the YSESEF will also be insured.

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Economy

Govt decides to award Budhi Gandaki Hydel project to Chinese firm again

Gorkha Post

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KATHMANDU — The government has decided to award contract for the construction of the 1,200-megawatt Budhigandaki hydropower project, a national pride project, to China Gezhouba Group Corporation (CGGC) once again.

A Cabinet meeting on Friday has decided to award the contract for the project to CGGCL reverting the erstwhile Sher Bahadur Deuba government’s decision to develop the 1200MW project with internal resources.

The Cabinet meeting has directed the Energy Ministry to initiate the process to award the project to the Chinese company.

Following the government decision, the Energy Ministry will now invite the Chinese company for talks and prepare a draft of the memorandum of understanding (MoU) before signing it, according to multiple sources at the ministry.

As per the Cabinet decision, the ministry has been asked to hold talks with the Gezhouba, prepare a proposal, and strike a deal to execute the $2.5 billion reservoir project.

Earlier on May 15, 2017, the Pushpa Kamal Dahal-led government had awarded the contract to construct the Budhigandaki project to CGGCL, juat nine days before he was to resign from the PM’s post.

The Dahal-led government had awarded the contract to CGGCL at a cost of Rs 260 billion as per a study carried out by a French company, Tractebel Engineering.

The agreement, however, invited controversy as the project was handed to the Chinese company without initiating a competitive bidding process.

The Budhi Gandaki hydel project has been touted as a key project to resolve the perennial power crisis in the country. The government has allocated Rs18 billion for compensation payments and operational expenses for this fiscal year.

The Gorkha and Dhading district administration offices are currently distributing compensation to owners of the land taken over by the project.

More than 8,000 households will be affected by the project, according to the latest report.

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