For over hundreds of small and big projects under construction through India’s support, the pace of progress is yet to pick up. However, something has changed recently with the formation of Nepal-India Oversight Mechanism.
Jointly led by Foreign Secretary Shanker Das Bairagi and Ambassador of India to Nepal Ranjit Rae, the second meeting of the Nepal-India Oversight Mechanism concluded with some positive notes.
According to a press release issued by the Ministry of Foreign Affairs, the meeting made a comprehensive review of the progress achieved in economic and development cooperation projects between Nepal and India since the 1st Meeting of the Mechanism that was held at the Ministry of Foreign Affairs in Kathmandu on 29 November 2016.
“Besides discussing issues relating to cross border rail projects, Integrated Check Posts, cross-border transmission lines, Arun III and Upper Karnali Hydropower projects, Pancheshwar Multipurpose Project, Postal roads, Line of Credit projects and reconstruction projects, the meeting covered other pertinent matters,” said the press release.
Both sides expressed satisfaction on the substantive progress made since the 1st Meeting of the Mechanism. While stressing on the importance of expeditious completion of all ongoing bilateral projects in time, the two sides agreed on further measures to be undertaken in the coming days and months for their effective implementation.
Nepal-India Oversight Mechanism was agreed to be set up during the State Visit to India by Prime Minister Pushpa Kamal Dahal ‘Prachanda’ in September last year in order to take measures to ensure that all ongoing bilateral economic and development projects are implemented within defined timeline.
The 3rd Meeting of the Oversight Mechanism will be held in the last of week of March 2017 in Kathmandu.