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Foreign Exchange Facility Recommendation for hydel projects comes into effect

   9:31 am        180        Kathmandu

The government has brought the Directive on the Foreign Exchange Facility Recommendation for the Hydropower Projects- 2018 into effect. The Directive aims to systematize and regulate foreign exchange facility recommendations for consultants, foreign technical human resources and providers arriving to work on new and under-construction hydropower projects had been brought to bear recently (second week of February).

It was implemented by the Ministry of Energy to make the payment in foreign currency for consultancy fee, procurement of goods and payment for repair and maintenance service, the Ministry said.

According to Ministry joint secretary and Spokesperson Dinesh Ghimire, the Directive covers for all sorts of currency notes, postal orders, postal note, money order, check draft, Letter of Credit, and credit cards.

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