NO NEPAL RECOGNITION FOR TRANSITIONAL GOVT. IN LIBYA

NEPAL NEUTRAL IN UN VOTE ON RECOGNITION FOR TRANSITIONAL LIBYAN GOVT.

Kathmandu, 18 Sept.: Nepal stayed neutral Friday in voting at the UN vote of recognition for the transitional government in Libya.
Actong Foreign Secretary Durga Bhattarai said Nepal was still studying the situation in Libya, Nagarik reports.
The transitional government is meeting resistance from forces loyal to Moammar Gadhafi.
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THREE WOMEN ON FST TAKEN TO HOSPITAL IN MOHOTTARI

Kathmandu, 18 Sept.: Police intervened Saturday night and took three fasting women from district headquarters Jaleshwor to hospital for treatment, Radio Nepal said.
Ram Dulari Mandal, 55, Sharada Bhusal,35, and Santa Kumar Das, 18, started a fast on to death one week ago demanding probe into irregularities at BanauliDanauli VDC.
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MAN SHOWS HEART OF GOLD AND DONATES RS. 40 MILLION
Kathmandu, 18 Sept.; In these days of cold affection, a large-hearted man has warmed the cockles of society’s heart. This man from Lalitpur did what even millionaires fear to do, The Kathmandu Post reports.
Astaman Maharjan, a resident of Purnachandi in Latitpur Sub-Metropolitan City, on Saturday surprised the mass including top political leaders gathered to mark the 18th anniversary of Jyapu Community by donating Rs 40 million in land and cash for the cause of benevolence. The octogenarian social activist provided one Ropani, 13 annas of land near Modern Indian School to the Jyapu Community for establishing an old age home and Rs 5 million in hard cash for constructing the building. Not only that, he has also given his word for additional support of another Rs 5 million if the money is not sufficient for the building. According to Ram Kaji Awale, the president of the community, the rate of the donated land is Rs. 1.2 million per anna which makes the cool cash a real cool Rs 35 million, in toto.
“I have seen many people evicted by from home by their children when they grow old and economically inactive,” the 86 year-old Maharjan said. “This has inspired me to help in the construction of old age homes.” The old soldier feels he has to the heart to soldier on for discarded people.
Maharjan was born in a traditional farming family of five sons and daughters and is living with his wife now. Giving up his ancestral occupation, he worked as a constructer whereby he managed to earn for the betterment of old people. “I have distributed my share of the property equally to my sons and daughters. The land I donated was from my personal share,” he said.
Awale said that the Samaj will start construction work and provide service as soon as possible. “As long as people like Maharjan are there, there won’t be a problem for the aged, sick and unwanted.”
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EPF TO; INVEST BIG IN INFRASTRUCTURE
Kathmandu, 18 Sept.: Employees’ Provident Fund (EPF), one of the cash-rich government-owned institutions, is foraying into the infrastructure sector in a big way, The Kathmandu Post reports.
EPF has said that it will invest 50 percent of its total resources in hydropower and housing sectors in the next 10 years. As per its projection, it will be investing Rs 283.5 billion in these sectors. The projection is based on its potential resources it will have in the next 10 years.
“Given the potential of EPF, the fund has taken the strategy of increasing its investment in these sectors,” said EPF Administrator Ramesh Kumar Bhattarai at the fund’s golden jubilee celebrations on Saturday. According to Bhattarai, 2012, which the government has planned as Investment Year, will also be a new opportunity for it to mobilise its resources.
According to EPF, based on the current annual growth rate, its financial resources are expected to reach Rs 247 billion in five years and Rs 567 billion in the next 10 years. As of the last fiscal year, its total financial resources stand at Rs 106.84 billion. Currently, the fund’s investment in projects stands at just 5.83 percent of its total resources, according to EPF.
EPF is the largest domestic lender in the hydropower sector. It has already pledged Rs 26.05 billion for different hydropower projects. It has reached agreements with projects including Upper Tamakoshi, Upper Sanjen, Sanjen, Rasuwagadhi and Mid-Bhotekoshi.
The fund has already vowed Rs 3 billion for the government-owned Hydropower Investment and Development Company which aims to generate resources for major hydropower projects from the national and international sectors.
Bhattarai said EPF faced difficulties in meeting expectation of its member employees due to its excess dependence on the income from interest on its fixed deposits in commercial banks.
EPF also wants to develop a broad housing project ‘EPF Member City’ for its members. Saying that its investment in construction and housing is profitable, EPF sought to develop housing projects for residential and commercial purposes on land that it owns. It has projected Rs 3 billion investment in all these housing projects.
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