India and Nepal have decided to set up Pancheshwar Development Authority (PDA) for the execution of 6400 MW multi purpose Pancheshwar Hydro Power project. An agreement to this effect was signed by Water Resources Secretary Umesh Narayan Panjiar and Nepal’s Energy Secretary Shankar Koirala at the end of their three day long talks on sharing of water resources held at Pokhara in Nepal on Sunday afternoon. Under the terms of reference, the office of the PDA will be established at Mahendra Nagar in Nepal for which required government machinery will be set up with officers from both the countries.<br/>Addressing a joint press conference, India’s Water Resources Secretary Mr. Panjiar said the formation of the Pancheshwar Development Authority will take forward the implementation of the Mahakali treaty between the two countries signed in 1996.<br/>Nepal’s Energy Secretary Shankar Koirala described the new agreement on Pancheshwar Development Authority as a new milestone on sharing of water resources between the two countries.<br/>AIR Correspondent reports, the Secretary level talks discussed a wide range of issues relating to utilization of water resources between the two countries.