Saarc Chamber Pushes for Seamless Regional Energy Trade

The top industry chamber for South Asia has called for a public-private forum to promote seamless energy trade in the region.

Published: 30th July 2015 02:10 PM  |   Last Updated: 30th July 2015 02:10 PM   |  A+A-

By IANS

KATHMANDU:  The top industry chamber for South Asia has called for a public-private forum to promote seamless energy trade in the region, the freedom for transit of hydrocarbons via pipelines and the extension of most-favoured nation status between and among the countries.

Wrapping up a conference on clean environment, climate change and water conservation in Paro, the Saarc Chamber of Commerce and Industry has came out with a declaration that said effort must also be made to promote foreign investment in the region in the area of energy and clean technology.

"As energy is an important issue for economic growth, we aim to increase investment in the power sector," said Suraj Vaidya, acting president of the chamber, while also pushing for a mechanism to resolve state-to-state or investor-to-state disputes in the region.

As regards what the declaration termed as the Electric Power Forum, the chamber said it must also include experts and practitioners to promote energy trade, while promoting efficient development of energy sector facilitating the implementation of priority energy projects.

According to Vaidya, the Paro Declaration desires uninterrupted power at affordable prices in the region. Voicing the opinions of stake-holders, it said there should be three sub-grid systems in the region -- eastern, western and southern grids, pending the coverage of entire South Asia.

The eastern grid should include Bhutan, Bangladesh, India and Nepal, the western grid can include Afghanistan, Pakistan and India, while the southern grid will be formed by India and Sri Lanka.

Only Maldives, which is a part of the eight-nation grouping, finds no mention.

The chamber also said pacts on Saarc energy projects must push accessibility and affordability.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

facebook twitter whatsapp