10-party meet; other details

Kathmandu, 30 May: Parties and Prime Minister Madhav Kumar Nepal were huddled Sunday in meetings to review and implement a three-point agreement Friday and avoid a constitutional and political crisis when parliament Saturday morning amended an interim constitution to extend the constituent assembly (CA) for one year until 28 May 2011.
Maoists, NC and UML brokered the agreement to which the premier is not a signatory’ but his party UML is.
The prime minister Sunday convened a meeting of 10 ruling parties to review the agreement.
The Big Three are also reviewing and pushing the deal.
Prachanda, Jhalanath Khanal and Ram Chandra Paudel respectively are leading Maoist, UML and Congress teams.

Chitwan closed down by parties; other details

Kathmandu, 30 May: Five political parties and groups closed down Chitwan Sunday demanding from the government the whereabouts of Dr Bhaktaman Shrestha on the 13th day of his possible abduction.
The doctor is Executive Director of BP Koirala Cancer Memorial Hospital at Bharatpur.
He’s still missing although police recovered his briefcase by a river in Chitwan and his car from Pokhara.
Maoists Saturday torched a van transporting copies of Republica and Nagarik newspapers at Rampur in Chitwan.
The driver and his nephew escaped being torched alive.
News reported the doctor appointed during the Prachanda regime and close to the UCPN (Maoist) is in Maoist control.
Doctors staged a one hour sit-in before hospitals nation-wide Sunday.
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Danpatra stolen at Maya Debi temple

Kathmandu, 30 May: Danpatra at holy Maya Debi temple was stolen for the second time in two years.
Danpatra and cash was stolen from the temple in Lumbini overnight, Lumbini Development Trust said.
Premises have been locked and an investigation launched.
Five suspects have been arrested.
The Danpatra was stolen two years ago as well.
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TRADE, COMMERCE, ECONOMY

IMF approves $42.05m loan

Kathmandu, 30 May: International Monetary Fund( IMF) has approved a $42.05m loan equivalent to Rs 3.1 billion under as rapid credit facility (RCF) scheme, an official announcement said.
The credit will help Nepal stabilize its dwindling foreign currency reserves.
Government applied for the loan.
The balance of payments in the first fine months of the current fiscal year stood at Rs 22.1 billion while trade deficit widened 58.9 percent to Rs 238.4 billion, according to Nepal Rashtra Bank (NRB).
Imports have been ballooning while exports dropped.
Loan is extended to countries with urgent balance of payment need.
Government has adopted corrective fiscal and monetary measures.
‘The government’s policy programme, supported by the IMF is aimed to address these risks and stabilizing international reserves.
“At the core of the programme are a right monetary and fiscal policy stance to support the exchange rate peg, which remains Nepal’s anchor for macroeconomic stability, and efforts to improve financial sector reforms,” said IMF Deputy Managing Director Naoyuki Shinohara.
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Nepse index up for third consecutive week

Kathmandu, 30 May: The bullish trend continued for the third consecutive as Nepse the index gained 16.82 points Wednesday at the end of four-day trading Wednesday.
The market closed at 479.40 points Wednesday after it opened at 462.57 points Sunday.
The trend is expected to continue Sunday when market opens with an agreement Saturday between major political players to end a prolonged political by extending the CA tenure by one year.
Trade volume is also increasing.
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MEDIA GOOGLE

“Tenure has been extended while details haven’t been worked out. Will three contractors complete the house construction in one year? It’s difficult to believe but there’s hope. They have tendencies to bring down buildings; but they aren’t monkeys.”

(Akhendra Bhandari, Kantipur, 30 May)

“The combatants are the problem now. Some Congress ministers opposed proposal to integrate them before CA elections by spending a large sum of money.”

(Former Congress minister Mahesh Acharya, Rajdhani, 30 May)

“We want to see the UN human rights office renewed. For countries like Nepal, human rights issues are very important. It’s not just the military phenomenon, but also treatment of women and other minorities which we will continue to press, as we do throughout the world, for high standards.”

(British Minister of State for International Development Alan Duncan, The Kathmandu Post, 30 May)
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