Maoists close down Prithvi Highway

Kathmandu, 9 Jan.” Maoists Saturday morning suddenly closed down Prithvi Highway disrupting the movement of vehicles.
Hundreds of passengers have been stranded.
Maoist and UML workers clashed over joisting a flag at a school in Dhading.
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UNMIN mandate extended only up to 15 May

Kathmandu, 9 Jan.: Government hasexte4nded the mandate of UNMIN only up to 15 May.
Foreign ministry sent a letter to UN headquarters Friday.
Government has been extending mandates for six months.
A deadline to promulgate in 28 May.
Government hopes 19,000 plus Maoist combatants under UN watch will be integrated and rehabilitated by 30 April to send the UNMIN back.
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Former TU VC Dr Mahendra Prasad dead

Kathmandu, 9 Jan.: Former Tribhuvan University Vice-chancellor Dr Prof. Mahendra Prasad died Friday.
He was 94.
He left behind a son and two daughters.
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Prachanda meets senior Chinese leaders in Hong Kong

Kathmandu, 9 Jan.: Maoist Chairman Prachanda held secret discussions with top Chinese leaders in Hong Kong for two hours, Nagarik reports from the island.
He and Krishna Bahadur Mahara, chief of the party foreign division, held discussions Thursday before returning home.
Discussions with senior government and standing committee members on Nepal’s politics, a Maoist worker in the island said.
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TRADE, COMMERCE, ECONOMY

NRB attempts to curb gold import

Kathmandu, 9 Jan.: In an attempt to curb gold import to stop the flight of capital, Nepal Rashtra Bank (NRB) Friday imposed restrictions on import of the yellow metal.
Forty percent of cash has to be deposited to open LCs for import.
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Inflation by mid-Nov. 9.9 percent

Kathmandu, 9 Jan.: Year on year inflation fell to was 9.9 percent in mid-November compared to 14.5 percent during the same period the previous year, Nepal Rashtra Bank (NRB) said.
But price index of food and beverages rose to 16.4 percent and non-food and service price indeed increased by 22 percent in the first four months of the current fiscal year.
Price of sugar and related produced jumped 50.6 percent.
Vegetable prices soared 38.7 percent.
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Budget deficit Rs3.40 billion

Kathmandu, 7 Jan.: Government’s budget deficit increased to Rs 3.40 billion in the first four months of the current fiscal year ending mid-November when the deficit was only Rs 1.26 billion in the same period the previous year, Nepal Rashtra Bank (NRB) said.
Revenue collection increased 41.6 percent to Rs 46.70 billion.
Government spending increases 36.5 percent to Rs 50.61 billion in four months of the current fiscal year.
Current account deficit was Rs 13.94 billion in the review period compared to a Rs 8.38 billion surplus in the same period the previous year.
Alarm have been sounded with the widening budget deficit and fall in remittances.
Grant transfers declined 10.2 percent and remittances went up only by 6.6 percent compared to a increase of 65.9 percent in the same period the previous year.
Gross foreign exchange reserve until mid-November was Rs 248.89 billion—a drop of 11.1 percent compared to the reserve in mid-July.
The reserve can finance imports for 8.5 months and services for 7.3 months.
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MEDIA GOOGLE

“If the high level political mechanism goes beyond its brief of drafting a constitution and taking the peace process to la logical conclusion, it’s utility will be over.”

(Communist leader CP Mainali, Annapurna Post, 9 Jan.)

“Which constitution has visualized a high-level political mechanism. Will this run the party or government?”

(UML leader KP Sharma Oli, Rajdhani, 9 Jan.)
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