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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Due to the delay in appointment of CEO, IBN has not decided on proposed projects worth about Rs 80 billion that have already gone through economic and technical inspections. Before the start of lockdown, proposals for seven investment projects were submitted to IBN. Among them, two proposals have been recommended by the Department of Industry while the other five proposals have been directly submitted by investors to IBN. The discussion over the proposals have not proceeded and board meeting of IBN has not been held till date because of the delay in appointment of CEO. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Due to the delay in appointment of CEO, IBN has not decided on proposed projects worth about Rs 80 billion that have already gone through economic and technical inspections. Before the start of lockdown, proposals for seven investment projects were submitted to IBN. Among them, two proposals have been recommended by the Department of Industry while the other five proposals have been directly submitted by investors to IBN. The discussion over the proposals have not proceeded and board meeting of IBN has not been held till date because of the delay in appointment of CEO. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Due to the delay in appointment of CEO, IBN has not decided on proposed projects worth about Rs 80 billion that have already gone through economic and technical inspections. Before the start of lockdown, proposals for seven investment projects were submitted to IBN. Among them, two proposals have been recommended by the Department of Industry while the other five proposals have been directly submitted by investors to IBN. The discussion over the proposals have not proceeded and board meeting of IBN has not been held till date because of the delay in appointment of CEO. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
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The Investment Board Nepal (IBN), the body established to facilitate large investments in the country, has been left without leadership since April 2 when its CEO Maha Prasad Adhikari was appointed Governor of Nepal Rastra Bank. However, process to appoint chief executive in the board has not started even after two months.
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Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted.
The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments.
Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board.
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Due to the delay in appointment of CEO, IBN has not decided on proposed projects worth about Rs 80 billion that have already gone through economic and technical inspections. Before the start of lockdown, proposals for seven investment projects were submitted to IBN. Among them, two proposals have been recommended by the Department of Industry while the other five proposals have been directly submitted by investors to IBN. The discussion over the proposals have not proceeded and board meeting of IBN has not been held till date because of the delay in appointment of CEO. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Due to the delay in appointment of CEO, IBN has not decided on proposed projects worth about Rs 80 billion that have already gone through economic and technical inspections. Before the start of lockdown, proposals for seven investment projects were submitted to IBN. Among them, two proposals have been recommended by the Department of Industry while the other five proposals have been directly submitted by investors to IBN. The discussion over the proposals have not proceeded and board meeting of IBN has not been held till date because of the delay in appointment of CEO. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Due to the delay in appointment of CEO, IBN has not decided on proposed projects worth about Rs 80 billion that have already gone through economic and technical inspections. Before the start of lockdown, proposals for seven investment projects were submitted to IBN. Among them, two proposals have been recommended by the Department of Industry while the other five proposals have been directly submitted by investors to IBN. The discussion over the proposals have not proceeded and board meeting of IBN has not been held till date because of the delay in appointment of CEO. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Radhesh Pant, former CEO of IBN said that the delay in appointment of the chief executive will add to the board’s problems from day-to-day operation to approving investment proposals. “The government has failed to give continuity to the process of appointing CEO in an important institution like IBN. This will not only affect the day-to-day operation but also leave a long-term negative impact as foreign investors attracted to invest in Nepal can divert to elsewhere after facing procedural hassles,” Pant pointed out. According to him, there should be handover and takeover practices at IBN one month prior to the ending of tenure of CEO. He suggested the government to prioritise appointment of CEO to give continuity to decide on investment proposals and other works undertaken by the board. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">Before the commencement of lockdown, IBN was working to facilitate large investment projects including Nijgadh International Airport, Tamor Reservoir Hydropower Project, West Seti Hydropower Project. Similarly, the board had prepared to facilitate agriculture projects working with provincial governments. Works of all these investment projects have been halted at present. IBN officials say that the feasibility study of Tamor Reservoir Hydropower Project has not been started because of the lockdown. Similarly, other projects that are under the study phase have also been halted. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:15.0pt"><span style="font-family:"Cambria",serif">The board meeting of IBN which is held under the chairmanship of the Prime Minister has not been held since mid-February. The confusions regarding the new proposed projects is because only the board meeting has the authority to decide on the proposals. IBN Spokesperson Bal Ram Rijal said that the absence of CEO has created problems for the board. According to him, prospective investors are enquiring about investment projects though no IBN has received no new proposals from investors. The board is yet to decide proposals related to development of hydropower, energy and cement projects. According to IBN officials, the projects have been proposed by Nepali as well as Chinese, Japanese and Singaporean investors. The board meeting of IBN is necessary not only to approve investment proposals but also to reject the unqualifying proposals. Meanwhile, the absence of CEO has created difficulty to coordinate with IBN’s chairman the Prime Minister, vice chairman Minister for Finance and ministers related to sector-wise investments. </span></span></span></span></p>
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