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Tuesday, August 18, 2009

Forex facility for hydro

Nepal Rastra Bank (NRB) board on Monday decided to provide US dollars for importing materials for hydropower projects up to seven megawatt from India.

Earlier, only the hydro projects up to five megawatts were allowed to import materials in dollar from India. "As the materials can be imported at relatively cheaper price in dollars, we decided to permit spending dollars for the purpose," said a board member.
On the other hand, the NRB board also decided to provide dollar facility to import the equipments related to press.
Source: Kantipur

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