Kathmandu. Minister for Energy, Water Resources and Irrigation Kul Man Ghising has said that Nepal has been benefited by signing power purchase agreement with India worth Rs 1.2 billion.

He said this at a meeting of the Public Policy and Delegated Legislation Committee of the National Assembly today.

Minister Ghising said that the government has illegally lost Rs 430 million by signing the power purchase agreement and that there was huge financial irregularity in it.

He said that the current rate of Rs 6.95 compared to the rate of Rs 8.10 of PEC has a profit of about Rs 1.20 billion. In the meeting, he said that the country would face load-shedding if the government did not purchase electricity by signing an agreement immediately.