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Nepal, Bangladesh sign MoU on energy cooperation

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KATHMANDU — Nepal and Bangladesh have signed a memorandum of understanding for power sector cooperation for intensifying the bilateral engagements for power sector development.

Minister of Energy, Water Resources and Irrigation Barsha Man Pun and his Bangladeshi counterpart Minister of Power, Energy and Mineral Resources Nasrul Hamid have signed the agreement amid a function here in Kathmandu on Friday.

Nepal has identified Bangladesh as a prospective market for hydroelectricity, which is a clean and renewable source of energy.

Nepal then had started talking with Bangladesh on bilateral energy cooperation since the power trade agreement (PTA) was signed with India in 2014.

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Nepal and Bangladesh, after the ‘SAARC Framework Agreement for Energy Cooperation (Electricity)’ among the SAARC member states in November 2014, have seen the prospects of bilateral power cooperation.

But, to execute power trade and power cooperation between the two nations, Nepal and Bangladesh need to hold talks with India as there is power trade between Nepal and India, and also Bangladesh and India.

Bangladesh will require around 34,000 megawatts of power by 2030 to sustain the high economic growth of above seven per cent.

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Economy

NOC hikes fuel prices

Gorkha Post

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KATHMANDU — Nepal Oil Corporation has jacked up the prices of petrol, diesel, kerosene and aviation turbine fuel with effect from Monday.

The state-owned monopoly has decided to increase Rs 1 per litre in petrol while it has increased diesel and kerosene prices by Rs 2 a litre, respectively. Likewise, price of ATF has been raised by Rs 4.5 a litre.

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Petrol will now cost Rs 111 per litre while diesel and kerosene will cost Rs 95 a litr and ATF will cost Rs 104.5 a litre.

The NOC, however, has not increased the price of Liquefied Petroleum Gas (LPG).

Even with this adjustment, NOC will still incur fortnightly loss of Rs 70 million, as per Birendra Goit, spokesperson for NOC.

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