BIG THREE TO SUPPORT 11TH AMENDMENT TO INTERIM CONSTITUTION

BIG THREE SUPPORT 11TH CONSTITUTION AMENDMENT
UPDATE

Kathmandu, 16 Nov.: The Big Three summit Wednesday
decided to support Wednesday afternoon’s 11th amendment to the interim constitution.
NC Vice-president Ram Chandra hoped after the meeting the amendment proposal would be approved by parliament.
He called for unity in UCPN (Maoist) where a group has announced its objections to the amendment making its passage uncertain.
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NC LEADER DEUBA CHARGES SUSHIL KOIRALA

Kathmandu, 16 Nov.: Senior NC leader and three time Prime
Minister Sher Bahadur Deuba charged party President Sushil
Koirala for demonstrating ‘dual character and dictatorial tendencies’
Deuba has been taking his differences to the people.
The leader who led the NC (Democratic) after a brief split charged Koirala for selectively disbanding party organizations
. ‘The issues I’ve raised must be addressed. It’s not only enough to reject my resignation,” he said calling the rejection meaningless.
Deuba demanded reinstatement of dissolved central committees of four party sister organizations.
“It will not be acceptable for us until the party president
corrects the decision to dissolve the central working committee
of the four sister wings,” the leader attempting seek leadership of the party said at a public programme Tuesday in the capital.
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GOVT. DECISION TO MERGE RBB, NIDC
Kathmandu, 16 Nov.: The High-level Financial Sector Coordination Committee meeting chaired by Finance Minister Barsha Man Pun today decided to start merger process of Rastriya Banijya Bank and NIDC, The Himalayan Times reports.

The meeting also decided to seek opinion from Industry Ministry regarding the merger process. “The ministry has started the merge process of Rastriya Banijya Bank and NIDC,” a source at the ministry said.

Central bank has suggested merging two government-owned financial institutions almost a year ago as an alternative to capital injection in the Rastriya Banijya Bank that is the largest commercial bank in the country in terms of assets size, though it has negative net worth of Rs 10 billion.

The financial sector reform programme has brought about some structural changes in it, but failed in making it a financially healthy bank.

After the merger of the two, RBB — that has a paid up capital of Rs 385.30 million — can turn its negative net worth to positive by selling the assets of NIDC, according to the government plan.

The NIDC has land in Kathmandu, Pokhara, Biratnagar, Bharatpur, Mahendra Nagar, Surkhet and Dhangadi worth around Rs 10 billion, which will be enough for RBB’s turn over. Similarly, the NIDC that has a paid up capital of Rs 410 million has a positive net worth of around Rs 900 million by the end of the last fiscal year.
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DIFFERENCES IN MJFL ON APPOINTING NEW DEFENCE MINISTER

Kathmandu, 16 Nov.: Differences have surfaced in MJFL on
appointing a new defence minister to replace Sharat Singh
Bhandari who has resigned, Bhuvan Sharma writes in Naya Patrika.
Party meeting hasn’t been held with the differences.
Majority central committee members have urged Chairman
Bijaya Kumar Gachedhar to convene a meeting.
The chairman favours a meeting only after 30 November.
Dr. Tilak Rawal, Ramenswor Raya Yadav and Mrigendra
Kumar Singh are aspirants.
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