PROMOTER SHARES OF LAXMI BANK TRADED IN BULK

BULK TRADNG OF LAXMI BANK PROMOTER
PROMOTER SHARES

Kathmandu, 18 Nov.: In another bulk sale, 783,405 shares of
Laxmi Bank were traded Thursday for Rs.102 million.
Promoter shares of Shiva Bhawan Industries were traded on the
last day of five-day of weekly trading.
Share price index rose by 3.77 points as market closed at 329.38 points.
Oberoi Hotels Pvt. Ltd sold its stake in Hotel Soaltee two days earlier in another bulk sale to a local company at Rs. 142.8 million.
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TOR OF EXPERT PANEL FIRST, CONSTTUTION
AMENDENT LATER


Kathmandu, 18 Nov.: The bill for the 11th amendment to the Interim Constitution of Nepal could be endorsed only after developing the Terms of Reference (TOR) for the proposed experts’ team in the Interim Constitution, UCPN-Maoist chief whip Dev Gurung revealed Thursday, The Rising Nepal reports.
Speaking at an interaction programme organised by the Reporter’s Club, Gurung said endorsement of the bill could make the experts’ team more powerful than that of the State Restructuring Committee (SRC) provisioned earlier.
"A powerful experts’ panel may reverse the reports of SRC and the State Powers Division Committee (SPDC)," Gurung said.
He said that the TOR should be clearly made and incorporated in the constitution before its amendment.
He suggested a sub-clause in the current bill tabled for amending the Interim Constitution on the basis of the reports of the SRC and SPDC. Our proposal could be the meeting point to forge consensus, he added.
Claiming that political parties had yet to arrive at a consensus to constitute the experts team, Gurung said that even his party chairman and vice chairmen were uninformed in this regard.
"Our chairman Pushpa Kamal Dahal ‘Prachanda’ and vice chairman and Prime Minister Dr. Baburam Bhattarai have hinted that the proposal for constituting the experts’ team had been introduced without the party’s decision," he said.
Chief whip of the CPN-UML Bhim Acharya, however, claimed that the experts team would not reverse the reports of the SRC and SPDC but would furnish suggestions.
"The submitted reports of the SRC and SPDC and reports to be submitted by the experts’ team would be mere suggestions, and the Constituent Assembly is the ultimate authority to make the decision," he said.
He claimed that the bill would be endorsed in the House meeting on Friday.
Nepali Congress leader Ramesh Lekhak said that the experts’ team was essential as lawmakers had demanded amendment and modification of the reports of the SRC and SPDC.
It would only make suggestions on state restructuring, he said.
The dispute over forming the experts’ team could be a design not to implement the seven-point agreement, he said.
He said that the NC favoured parliamentary system and was against the directly elected executive presidential rule.
In the function, co-chairman of the Sadvabana Party Nepal Laxman Lal Karna said that the panel should function on the basis of the reports of the SRC and SPDC.
He said that the Madesh based parties were on the side of parliamentary system.
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‘SITUATION DEMANDS CA TENURE EXTENSION
CLAIMS PM BHATTARAI

Kathmandu, 18 Nov.: Prime Minister Dr. Baburam Bhattarai Thursday proposed for extension of the Constitution Assembly (CA) tenure for another six months to promulgate the new constitution after the expiry of its current tenure on November 30, The Rising Nepal reports.
He informed the three-party meeting held at the Ministry of Peace and Re-construction, Singha Durbar that the government was mulling over the term extension.
"The Prime Minister told the meeting that the situation demanded extension of the tenure of CA," UML leader Bhim Rawal told The Rising Nepal after the meeting.
Rawal said NC and his party leaders told the PM to wait until their parties decided on the matter.
Nepali Congress leader Arjun Narsingh KC told journalists that NC and UML replied to the PM that it was not the time to discuss the issue.
"We said to the PM that the extension will depend on the progress in the peace process and the return of the seized property as per the seven point agreement," he said.
Earlier, the CA tenure was extended for three times.
However, the meeting failed to garner consensus on proposed experts panel in the place of the State Restructuring Commission by amending the interim constitution.
The ruling UCPN-Maoist, main opposition Nepali Congress and CPN-UML high level leaders decided to sit again on Friday to finalize the TOR of the proposed experts’ panel.
NC vice-chairman Ram Chandra Poudel informed that the next meeting would give the finalise the issue of interim constitution amendment.
UML leader Surendra Pandey said the TOR of the proposed experts’ panel would be prepared tomorrow before the scheduled parliamentary meeting.
"The TOR will include the concerns, amendment proposals in the House and the CA committee’s reports," he said.
However, UCPN-Maoist faction of Mohan Baidhya said the meeting could not reach any conclusion.
"We will not accept the amendment proposal bypassing the CA committee reports," he said.
The Baidhya faction lawmakers affiliated to Janajati caucus, among others, had registered amendment proposal on the 11th amendment bill that authorises the Constituent Assembly to form a panel of experts to seek advice on the restructuring of the state.
The lawmakers fear that the constitutionally recognised experts’ panel could nullify recommendations made by the CA Committee on Restructuring of the State and Devolution of State Powers.
On Thursday, leaders of NC and UML held talks prior to the three-party talks. UML leader Surendra Pandey informed that his party would withdraw its amendment proposal.
NC general secretary Krishna Sitaula informed that the proposed experts’ panel should give suggestions on state restructuring keeping in mind the constitutional sprit.
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