PARTY LEADERS DIVIDED ON SUPREME COURT REJECTION OF REVIEW PETITION

NO AGREEMENT BETWEEN PARTIES ON SUPREME COURT REJECTION
Kathmandu, 29 Dec.: Leaders of various political parties have expressed different opinions over the denial of the Supreme Court (SC) to register the petition to review the SC's verdict on Constituent Assembly (CA) term extension, RSS reports.

Speaking at a programme organised in the capital on Thursday, standing committee member of the UCPN-Maoist Dev Gurung said the SC entered in the political issue by crossing its jurisdiction.

Likewise, CPN-UML leader Bharat Mohan Adhikari, however, said the CA term can't be for indefinite time and added the President should mediate between the SC and the Legislature-Parliament if dispute persists.

Similarly, lawmaker of the Nepali Congress, Shovakar Parajuli said the SC crossed its jurisdiction adding that both the court and House were criticised for CA's failure to deliver the constitution.

The SC had denied accepting the application lodged on behalf of the government and Speaker to review the SC's verdict on CA term.

Maoist leader Gurung said denial of the issue demanding judicial remedy from the administrative decision was not appropriate.

Gurung said, "If the court crosses its jurisdiction in this way, it could be interpreted that independent judiciary was heading towards becoming arbitrary."

However, leader Adhikari said the SC's verdict has addressed the people's sentiment. "In my opinion, denial of the application is appropriate."
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FUEL CRISIS AGAIN SURFACES
Kathmandu, 29 Dec.: Short supply of petroleum products has been seen in the market with the scrapping of separate prices earlier set by the Nepal Oil Corporation (NOC) for industrialists and general people in petroleum products, RSS reports.

The NOC had fixed separate prices in kerosene and diesel few weeks ago. The government scraped the separate price after business sectors launched agitation against the decision.

According to a source at the NOC, short supply will be seen for further few days despite receiving the Rs. 1.50 billion by the Employees' Provident Fundon on the request of the government.

According to the Chairman of Petroleum Dealers Association, Saroj Pandey, the government should search long term solution as the amount provided by the Employees' Provident Fund will only solve the problem of petroleum products for few weeks.

Spokesperson of the NOC, Mukunda Dhungel said that impact of the petroleum products have been directly seen in the country after the Indian Oil Corporation (IOC) refuses to supply oil until the NOC provides dues to the IOC.

Currently, the NOC has loss of Rs. 1.28 billion per month.

According to the NOC source, there is loss of Rs. 342 in each cylinder of cooking gas, Rs. 18 in each liter of diesel and Rs. 12 in each liter of kerosene oil.

There are 2,200 petrol pumps across the country. Kathmandu valley has some 124 and of them, and 75 percent of the country's petrol pumps are in the condition to be shut down.
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NEW APPOINTMENTS IN INVESTMENT BOARD
Kathmandu, 29 Dec.:: A meeting of the Investment Board (IB) held today decided to nominate more members in the Board, RSS reports.

The meeting held at the Prime Minister´s Office (PMO) decided to nominate Vice-President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Bhawani Rana, former President of the FNCCI, Kush Kumar Joshi, and industrialist Krishna Acharya.

According to Finance Minister, Barsha Man Pun, the meeting also appointed Anil Shah and Chandra Dhakal as the permanent invitee members in the IB.

Similarly, Minister for Energy, Minister for Physical Planning and Works and Minister for Information and Communications, and Secretary at the Finance and Infrastructure Division of the PMO were also appointed as the permanent invitee members in the IB, Minister Pun said.

Chief Executive Officer of the IB, Radhesh Pant, said discussions were held to create investment-friendly environment and the members agreed to submit concept paper in this regard in the next meeting of the Board.

Panta said, "We are doing homework to create investment-friendly environment though it is necessary to reform on the policy level."

The government has already declared 2012 as the investment year in an attempt to increase investment in the country.
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LATE KING BIRENDRA’S BIRTHDAY OBSERVED
Kathmandu, 29 Dec.: :Various distinguished persons and the members of the general public paid tributes to the late king Birendra Shah at a commemorative function organized by the Yogi Narahari Nath Trust Spiritual Council at Jawalakhel on Thursday, RSS reports from Lalitpur.

The commemorative function was organized on the occasion of the 67th birth anniversary of the late king.

Speaking at the function, distinguished persons have stated that the future generations should cherish the contributions made by the late king for the welfare of the country and the people.

President of the Trust, Shankar Paudel stressed that the nation should not forget the contribution and the personality of the late king Birendra who propounded the concept of Nepal as a Zone of Peace.
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NEIGHBOURING CHINA REVEALS AMBITIOUS SPACE PLANS
Kathmandu, 29 Dec.: China has released its next five-year space plan to help it on its way to its eventual goals of building a space station and putting a man on the moon., AP reports from Beijing
The white paper released Thursday says that by the end of 2016, China will launch space laboratories, manned spaceships and ship freighters, and make technological preparations for the construction of space stations.

It says the country will carry on exploring the moon using probes, start gathering samples of the moon's surface, and "push forward its exploration of planets, asteroids and the sun."

China places great emphasis on the development of its space industry, which is seen as a symbol of national prestige.
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