PM NEPAL RULES OUT PRESIDENTIAL RULE POSSIBILITY; DETAILS OF NEPAL INTERVIEW

By Bhola B Rana

Kathmandu, 12 Sept.: Caretaker Prime Minister Madhav Kumar Nepal Saturday night ruled out the possibility of presidential rule in an interview with Avenues Television.
‘There’s no such possibility. Such a situation can come not because of the president but because of parties,” he said.’ The political deadlock should end soon. If that doesn’t happen, permit the government to function or assist it. This isn’t the problem only of Madhav Kumar Nepal.”
Nepal asked: “What will happen if I leave Baluwatar or Singha Durbar without the cooperation of all?”
The outgoing premier called for an ant-Maoist front and urged ssuport for NC candidate Ram Chandra Paudel.
“A strong feeling has developed a government should not be formed under Maoist leadership. Most parties believe, a leadership under them can’t be accepted until Maoist army, extreme leftist tendency, autocracy prevail,
“The required understanding for Ram Chandra Paudel who has come as an alternative to the Maoist hasn’t been garnered.
‘I don’t say its shortcoming of an effort from the Congress; this should be the priority of all. Entire environment is the problem/”
As the prime minister who has been a caretaker for more than two months made the suggestion, a task force was formed by 11 parties Saturday at Nepal’s initiative to draft a common approach to end the deadlock.
‘It’s become late. UML should also effort to break the stalemate. That’s also true,” the prime minister said in reply to a question whether UML was also responsible for the problem.
Nepal charged Maoists were trying to impose Fascism ‘in the name of communism’.
‘We saw such Fascism in Kanpuchea. Such Fascism can’t be acceptable under any circumstance.. Fascism is Fascism.”
The government charged cantonments under UNMIN watch were money-making machine of Maoists.
“Cantonments will continue until UNMIN remains. They will continue to get billions of rupees when cantonments continue. They can feed their cadres with money from government. Money can be collected to maintain cadre. This way, they’re collecting billions of rupees every year.
“Making cantonment a base, they are threatening traders, destroying forests. Billions of rupees is being collected through yarshagumba trade and smuggling. Are we going to let the cantonments to fleece the nation? This is an income source for them. That’s why they don’t want it removed.”
The caretaker premier criticized the fresh UNMIN report to the security council saying there were ‘many mistakes, wrong analysis’ unbalanced’ calling it ‘subjective’.
Nepal said the comments on the government; were wrong’.
“This is the legitimate government of Nepal. A legitimate government sent the signed letter [request on four-month extension of UNMIN],” he added.
‘Everything is being done as per the constitution.”
Nnnn

MOMENTO APPARELS TAKEOVER BY INDIAN COMPANY
Kathmandu, 12 Sept.: India’s Liverpool Retail is acquiring a 33 percent stake in Momento Apparels, one of Nepal’s biggest readymade garment (RMG) manufacturers, The Kathmandu Post reports quoting The Economic Times..

Ahmedabad-based Liverpool Retail has entered into an IRs 200 million deal with Momento Apparels as part of its integration plans, reported The Economic Times.

Liverpool, a nine-year-old company, has two casual wear brands—Liverpool and Barcelona. It ventured into the readymade garments sector in 2006 with its diverse product line of shirts, trousers, T-shirts and men’s and women’s accessories. Currently, it has 554 stores across 11 Indian states.

Chandi Raj Dhakal, one of the promoters of Momento Apparels, admitted that both sides are in negotiation for the deal. “We’ve already signed a Memorandum of Understanding (MoU) with Liverpool,” said Dhakal. “It will take a month or two to complete the deal.” During Nepali readymade garments’ heyday, Momento used to be one of the largest exporters, winning highest exporter award for four straight years from the government. However, along with other garment manufacturers, it was also badly hit by the United States quota phase-out in 2005 and worsening business environment. It was also plagued by bank loans that ran into millions. Hit by financial setbacks, it had even requested the government to ‘pay off’ its workers and the government had given the nod. Since last year, Dhakal has been trying to revive it and even sold some stake to NRN Bhawan Bhatta also. With the US market no longer remaining lucrative, it has been concentrating on the Indian market for the last few years. “Liverpool will take care of our loans,” said Dhakal.

Once Liverpool comes into the picture, there will be three major promoters in Momento, Chandi Raj Dhakal, Bhawan Bhatta and Liverpool Retail. According to Dhakal, Liverpool will give 100 percent buy-back guarantee for the Momento’s products. Momento has been supplying to Liverpool since last six months. “By November, our factory will run at 80 percent capacity,” said Dhakal.

Of late, India has emerged as a major destination of Nepali readymade garments with leading Indian retail companies placing orders with Nepali manufacturers.
NNNN