First meeting of the Governing Body of the Pancheshwar Development Authority (PDA) was held in Kathmandu on September 22-23, 2014.  Indian delegation was led by Alok Rawat, Secretary, Ministry of Water Resources and the Nepalese delegation was led by Rajendera Kishore Kshatri, Secretary Ministry of Energy. 

According to Dr. Mohan Chandra Attaché (HIC), Indian Embassy, the meeting observed as to how Pancheshwar Multipurpose Project (Project) was halted for a long time and now the strong impetus given by the two Prime Ministers during Indian Prime Minister Narendra Modi's visit to Nepal on 3-4 August 2014  which has led to this first meeting which will pave the way for expediting the project.

The meeting decided finalization and approval of the Statute for the Authority. The Statue has guidelines for the establishment and functioning of the Authority, formation of the Governing Body, Executive Committee and appointment of the Chief Executive Officer (CEO) and other officers and personnel.  According to agreement, the First CEO of the Authority shall be from Nepal, while the first Additional CEO shall be from India and the headquarters of the Authority shall be established at Mahendranagar, Nepal.

They also agreed  that existing Detailed Project Report (DPR)/Feasibility Study Report of the Project prepared separately by India and Nepal need updating, in view the changes in socio-economic data, availability of additional hydro-meteorological data, increase in construction cost, etc., as also the integration of the two reports to prepare a single DPR of the Project.

Both side agreed to work of DPR preparation of Pancheshwar Multipurpose Project, including the re-regulating dam at Rupaligad, should be carried out in an integrated manner within a six-month time frame and should be entrusted to a consulting firm whose competence and capabilities are recognized by both the sides.

Establish a corpus fund for the PDA, for its initial activities, totaling of NRs 32 crores (equivalent to INR 20 crores), to be shared equally by the two sides. This corpus fund will be a part of the total Project cost.

The next meeting of the Governing Body of the PDA will be held in about one month time in New Delhi, India.