Opposition Party asks govt to expedite Hydro Projects

The Opposition Party said in order to mitigate fiscal deficits in the short-term and stay steadfast on the course of economic self-reliance in the long run, the government must complete P-II and Nickachu by mid 2023, and expedite other projects.

The opposition recommended that it is achievable if Punatsangchu-II is provided with additional 1,600 workers and Nikachu with 90.

On P-I, the Opposition recommended the decision on choice between dam and barrage be concluded expeditiously.

It said Kholongchu Project is still far from execution and urged the government to start the actual construction works of the project.

It said that the present Government had pledged to generate additional 5,200 MW of hydropower through Sunkosh, Kuri-Gongri and other projects.

The party said the country’s domestic revenue has fallen sharply and is expected to fall further at least in the next two fiscal years. Fiscal deficit is projected at negative 8.59% of GDP in 2021-2022, beyond the acceptable threshold.

 The Opposition fears the government could resort to more borrowings, in non-productive and non-hydropower sectors and worsen the already bad debt situation.

“Our debt as a percentage of GDP had increased in the last 3 years from 114.2% in 2018- 2019 to 138.8% to 2020-2021, which is a matter of serious concern,” it stated.

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