KATHMANDU, AUG 05 - Parliamentary Finance Committee has formed a sub-committee headed by lawmaker Kamala Pant to conduct study on financial, physical and technical aspects of Kathmandu-Nijgadh Fast Track Project.
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After the government’s plan to award the project contract to Indian consortium of Infrastructure Leasing and Financial Services (IL&FS) Transportation Networks, IL&FS Engineering and Construction, and Suryavir Infrastructure Construction landed in controversy, the parliamentary committee formed the panel to conduct study and submit its report to the committee.
Other members of the committee are lawmakers Keshav Badal, Garima Shah, Gopal Dahit, Jagadishwor Narsingh K.C., Bikram Pandey and Shakti Basnet, a press release of the committee stated. The sub-committee has been mandated to fix its coordinator by itself. The sub-committee will hold discussion with experts and technicians and will submit the report within 15 days.
Ministry of Physical Infrastructure and Transport said that it has concluded negotiation with Indian Consortium Company under which Nepal will finance the developer worth $750 million with additional grant of $150 million.
However, the provision of government financing the Indian developer has drawn criticism from some politicians and experts with former Prime Minister Baburam Bhattrai leading the protest against the plan.
Meanwhile, Indian government has assured to provide additional dedicated line of credit for the project after the government made request for the same.
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