Public-Private Partnership and Investment Act, 2019

8. Functions, Duties and Powers of the Board: The functions, duties and powers of the Board shall be as follows:-

(a) to formulate or cause to formulate policies relating to projects to be implemented under public-private partnership and private investment, and investment,

(b) to collect details of feasible projects and prepare or cause to prepare a list of studies and projects of such projects,

(c) to select or cause to select projects of a competitive or special priority nature among projects to be implemented through public-private partnership or the private sector,

(d) to assess and evaluate the basis of technical and financial capacity and timely project completion with transparency, cleanliness and assurance of competition for projects selected for competitive implementation, and prepare a pre-qualification list of such projects, call for proposals, evaluate proposals, approve projects, approve investment, and negotiate with proponents of such projects as necessary and enter into or cause to enter into agreements,

(e) to enter into or cause to enter into agreements for the development, construction and operation of projects selected for implementation as projects of special priority through negotiation,

(f) to study unsolicited proposals received directly by the Board as necessary, grant survey permits, forward them to the concerned body for permits, licenses, right of way required by law for the project mentioned in such proposals, grant investment approval and consent, or negotiate with the proponent and enter into or cause to enter into agreements,

(g) to monitor or cause to monitor whether approved projects are constructed, implemented or operated according to studies and the agreement,

(h) to perform blended finance related work in the areas of infrastructure construction and project development including investment,

(i) to recommend to the Government of Nepal to provide economic or non-economic facilities,

(j) to coordinate and facilitate the purchase or lease of land exceeding the ceiling limit required for approved projects,

(k) to grant or cause to grant permission for the environmental impact assessment study of approved projects by completing the prescribed process, if forest and environment related permission is required,

(l) to approve Project Development Agreements, Project Investment Agreements and Concession Agreements,

(m) to write to the concerned body for permits, licenses and approvals required pursuant to prevailing law for implementing approved projects,

(n) to cooperate with concerned bodies of the Government of Nepal to create an investment-friendly environment and develop Nepal as a destination for foreign investment,

(o) to recommend to the Government of Nepal regarding negotiating bilateral investment agreements and investment promotion related matters including double taxation relief with countries deemed appropriate by the Board to attract foreign investment, or establishing mechanisms, or causing to do so,

(p) to provide or cause to provide necessary expert services and coordinate and facilitate the Government of Nepal and other related bodies regarding the implementation of projects and investment for constructing, operating, rehabilitating or upgrading infrastructure or providing public service under direct foreign investment or public-private partnership,

(q) to coordinate or cause to coordinate between the concerned Ministry, Province, Local Level and government and private sectors for project development, investment promotion and project implementation,

(r) to provide or cause to provide prompt decisions and expeditious services for the implementation of approved projects,

(s) to approve the annual program and budget of the Board,

(t) to prepare a list of investors who have successfully implemented projects and, as necessary, create competition among such investors or pre-qualified investors for implementing new projects,

(u) to mobilize or cause to mobilize diplomatic missions abroad and the Office to carry out publicity and interaction with foreign investors and other necessary functions for promoting foreign investment, establishing cooperation and coordination,

(v) to provide or cause to provide services from the Single Point Service Center to attract foreign investment and for any project established and operated under such investment,

(w) to monitor or cause to monitor project implementation according to the agreement after financial management is completed pursuant to the agreement,

(x) to collect fees and charges as prescribed in return for granting permission or license to investors or for services and facilitation provided by the Board for project development,

(y) to construct or cause to construct necessary infrastructure for projects facilitated or to be facilitated by the Board through investors as prescribed,

(z) to perform other functions as prescribed.