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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
<p> </p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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December 18: The government faces risk of losing US grant under the Millennium Challenge Corporation due to its indecision.
The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.
The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.
Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15).
“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.
Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.
Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.
The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.
Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
<p> </p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The government had set a target to mobilize Rs 9.1 billion from the MCC fund in the current fiscal year. However, it has not been able to utilize the fund pledged by the US government as the agreement is yet to be endorsed by the parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The parliament has not been able to endorse the grant agreement due to strong opposition from various leaders, including those from the ruling party. The leaders have demanded amendment to some provisions mentioned in the agreement but the government is yet to settle the issue. There is a clause that the MCC grant agreement must be endorsed by the parliament and implemented within 5 years, but time is running out as the issue of amendment is yet to be addressed. This has given rise to concerns that there is high chances of losing the grant by the government.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Meanwhile, the US government-backed MCC has scrapped a US$ 480 million deal with Sri Lanka. A meeting of the board of directors of MCC decided to reject the deal following a meeting in Washington on Tuesday (December 15). </span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“The MCC board meeting on December 15 selected new countries for providing grant assistance. The meeting has also rejected the proposed deal with Sri Lanka,” reads a statement issued by MCC.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Sri Lanka had also signed the MCC deal but the deal was not endorsed by the parliament. Sri Lanka was also having similar debate like in Nepal regarding whether or not to endorse the grant agreement. Sri Lanka had signed a USD 480 million deal with MCC in April 2019.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although the Government of Nepal has said it is ready to amend some provisions related to the agreement, it has not taken any decision so far. The USA has shown concerns regarding the delay in endorsing the agreement. The delay in taking a decision can lead to the scrapping of the deal.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The Government of Nepal had signed a Rs 55 billion deal with MCC in September 2017 for cross-border transmission lines. The government had pledged to implement the deal from July 2020 after completing all the required processes. However, it has not been able to implement the deal due to the obstruction in parliament.</span></span></span></span></p>
<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS""> Former Finance Minister Ram Sharan Mahat says that there are obstructions in endorsing the MCC agreement from the ruling party itself.</span></span></span></span></p>
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