The Independent Power Producers’ Association, Nepal (IPPAN) has demanded that project-affected local residents must be allowed to buy hydropower shares at the face value of Rs 100.
The Independent Power Producers’ Association, Nepal (IPPAN) has requested that hydropower companies should provide the 10 percent shares allocated for project-affected local residents at the face value of Rs 100 per share.
According to a statement released on Sunday, IPPAN President Mohan Kumar Dangi said that the shares allocated to locals should be given at face value as per the Securities Registration and Issue Regulations. IPPAN shared this view because there are talks that some developer companies are preparing to issue shares to local people at premium prices.
IPPAN explained that during project construction, locals provide their land and face environmental as well as social impacts. Because of this, the main goal of giving shares is to make them feel ownership of the project easily. If companies issue shares at premium prices, it will reduce access of locals and make their connection to project weak.
Simple and Transparent Process Demanded
The association also expressed concern about the delays in share issuance process. They have requested the government and regulatory bodies to make this process simple, transparent, and time-bound. Along with this, IPPAN also requested its member companies to follow the policy of providing shares to local residents at face value.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
