Nepal Today

Friday, October 29, 2010

14th ROUD VOTING FOR PM INCONCLUSIVE

Kathmandu, 29 Oct. Fourteenth round voting for prime minister was also inconclusive Friday.
The sole candidate NC Vice-president Ram Chandra Paudel got 96 votes, two opposed his candidacy and 40 lawmakers stayed neutral.
Fifteen round voting will beheld 1 November.
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PRACHANDA TASK FORCE AGEESS TO INDEPNDENT JUDICIARY

Kathmandu, 28 Oct. A high-powered Prachanda-led task force to remove differences on 230 points to be included in a proposed constitution to institutionalize a constitution agreed in principle to an independent and objective judiciary.
They also agreed on a mechanism to appoint judges.
The mechanism will be discussed to appoint, transfer and act dissmiss judges and who will head it at Saturday’s meeting.
The task force in empowered to provide suggestions of Chairman Subash Nemwang of the constituent assembly (CA)


NC TO SUPPORT BUDGET IN PARLIAMENT

Kathmandu 29 Oct.: NC central committee Friday decided to support the caretaker government’s plans to present a delayed full budget in parliament.
Maoists object the full budget presentation.
NC support on the second day of central committee meet Friday came as NC opposed UML hobnobbing with Maoists failed attempts to elect a successori of Caretaker Prime Minister Madhav Kumar Nepal,
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MEDIA GOOGLE

“It’s certain he [PM Nepal] will be portrayed as a villain in history. What’s his success as a prime minister in the final analysis? Experts are beginning to compare him with Prime Minister Nagendra Prasad Rijal of the panchayat era.”

(Yubaraj Ghimere, Annapurna Post, 29 Oct.)

“People would be grateful if leaders who boasted of making Switzerland at least converted Nepal into Bihar of Nitish Kumar.”

(Shriman Narayan, Naya Nepal, 29 Oct.)
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DEUBA OPPOSED KOIRALA POWER TO INCREASE POWER THROUGH STATUTE AMENDMENT

Kathmandu, 29 Oct.: Differences have surfaced in the NC is the issue of empowering the central and district presidents, Kantipur reports.
Sher Bahadur Deuba, amid charges .
On the pretext of further empowering the president at the central working committee (CWC) Thursday, Sher Bahadur Deuba said President Sushil Koirala is arbitrarily attempting to increase his powers by amending the party statue.
Koirala presented an amendment proposal proposing the president can also appoint non-elected CWC members vice-president and secretariat members.
Deuba supporters accuse Koirala of increasing powers by seeking to appointments of non-elected like district presidents,
Deuba faction is against empowering the president through statute amendment.
“The president favours increasing presidential through statute amendment.
We’ll not let that happen,” Deuba supporter and central committee member Manmohan Bhattarai said.
Deuba has objected to his placement in fourth position in the party minute book after the president, general secretary and treasurer.
But he’s second in protocol after the president in seating arrangement.
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GOVT. TO PRIVATIZE NAC


Kathmandu, 29 Oct.: The government is finally converting Nepal Airlines Corporation (NAC) into a company and initiating a process to induct a strategic partner with up to 51 percent stake to revive the long-ailing national flag carrier. Milan Mani Sharma reports in Republica..

Though much talked about, the restructuring of NAC is being executed at last after the Privatization Committee on Wednesday endorsed a restructuring plan and a new prospectus for the airline as a company.
The Ministry of Tourism and Civil Aviation (MoTCA) had submitted the restructuring plan with a specific implementation timeline a few months ago.

“The ministry will initiate the process to register NAC as a company as soon as we get the Privatization Committee´s decision letter from the Ministry of Finance (MoF),” said Kishore Thapa, secretary at MoTCA.

The overall process could take just a few weeks, officials told Republica. Once the process is completed, it will automatically kick off capital and organizational restructuring at NAC.

“The registration of the company will instantly annul the existing NAC Act and Regulations and dissolve the existing board,” said Ranjan Krishna Aryal, MoTCA joint-secretary.

A new board headed by senior government officials will then take over NAC operations and execute the restructuring process as per the plan set out by the ministry and completely overhaul the capital and organization structure.

Going by the plan, the government will convert its existing 100 percent stake in NAC into a 49 percent share and invite the strategic partner to invest the equivalent of the additional 51 percent of share capital.

Out of its 49 percent stake also, the government will sell a 15 percentage point equivalent to the public through an Initial Public Offering (IPO). It will further divest another 10 percent share to tourism entrepreneurs and 5 percent to NAC employees.

“Once the plan is executed, the government will have only a 19 percent stake in NAC,” said the source. “NAC´s capital will be more than double the existing amount.”

The company will be run under public-private model. And with the presence of a strategic partner experienced in handling international business, the government expects NAC to become a much stronger and more efficient airline company that will reclaim its goodwill and its business.

“NAC is well known as among the safest airlines. With strong and experienced management, it will surely build a new image, coming out of a long-running depression,” said Thapa.

Latest valuation shows that NAC has assets worth Rs 16 billion. These include its corporate office at New Road, two Boeings and seven Twin Otters, and spares.

Although just endorsed, the idea of converting NAC into a company and inducting a strategic partner is nothing new. Various studies commissioned by the government in the past had put forth suggestions along the same lines.

Since 2000, the government has commissioned six different studies for restructuring and reforming NAC. Even though their major recommendations were almost similar, the government never actually implemented the suggestions.
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