Nepal Today

Tuesday, February 28, 2012

CENTRALREGION SWEEPS ALL GOLDS IN SWIMMING

NEPAL-INDIA RAILWAY TALKS THURSDAY
Kathmandu, 28 Feb.: Two-day Nepal, India railway talks begin in the Nepalese capital Thursday.
Officials will discuss movement of goods between the two countries, among other issues.
train services to the Inland Container Depot in Birgunj.

A Container Corporation of India-led joint venture is operating the Inland Container Depot.
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BOMB PLANTED IN FRONT OF GOVT.OFFICE
Kathmandu, 28 Feb.: A socket bomb planted in front of Revenue Collection
Office was found in Janakpur Tuesday.
The person or institution planting the bomb wasn’t known.
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Kathmandu, 28 Feb.: Central region grabbed all 27 golds in swimming up for grabs at Birgung
in the 6th National Games Tuesday.
It also won 25 silvers and as many bronzes/
He games are being held for the first time in 13 years in the far-West also for the first time.
The main events of the national sports competition is being held in Dhangadi, Tikapur and Mahendranagar in the poorest of five regions, but without adequate facilities, soe events re being hosted by other urban centers as well.
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MAOISTS DECIDE DETAILED PROTESTS
Kathmandu, 28 Feb.:: UCPN-Maoist party has decided to mobilise the general public all across the country to press political parties to promulgate a constitution that is ‘pro-people’ and create an atmosphere for lasting peace, Tika R. Pradhan reports.

As part of the campaign, endorsed by the party’s last central committee meeting, peaceful struggle program-mes such as mass meetings and interactions will be organised in both urban and rural areas of the country.

“The programmes will go on until May 27 (the last day in the tenure of the Constituent Assembly) to ensure that a new constitution is promulgated and PLAs integrated in a dignified manner,” said Politburo member Agni Sapkota.

Sapkota, who is considered close to party Chairman Pushpa Kamal Dahal, said Dahal has been given the responsibility to present details of the campaign at the standing committee meeting slated for Wednesday. Sapkota said the meeting was expected to decide on drafting a constitution that carries the spirit of anti-imperialism and anti-expansionism. “We want provisions in the new constitution that guarantee a directly elected president and federalism based on identity,” said Sapkota.

Standing committee me-mber Dev Prasad Gurung, considered close to the Mohan Baidhya camp, said other political parties were reluctant to draft the new constitution and were bent on evacuating PLA cantonments at any cost. “Parties want to breath life into the 1990 constitution. That is why they want the peace process to be concluded before the new statute is ready,” said Gurung.

On change of guard in the government, Gurung said an external ‘power

centre’ is backing the Baburam Bhattarai-led government as the Maoist leader

is ‘more liberal than those in the Nepali Congress or UML’.
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LIQUIDITY SURPLUS SHORT TERM PHENOMENON
Kathmandu, 28 Feb.: The current liquidity surplus is a short term phenomenon, according to central bank governor Dr Yubaraj Khatiwada, The Himalayan Times reports.

“The current liquidity scenario is a short term phenomenon, whereas there is a long term credit demand,” he said, addressing the official inauguration of the youngest commercial bank, Sanima Bank, here in the valley today.

Currently, banks and financial institutions have added around Rs 85 billion deposits, and are in a comfortable position as against last year’s tight liquidity situation, though the amount available for loans is very limited.

The financial sector should move ahead with other sectors, he said, adding that it alone cannot sustain the economy in absence of other sectors that are at present performing poorly. “It’s time that banks and financial institutions think of long-term investments instead of short-term investments and profit maximisation. Financial institutions should increase their capital base to invest in the long term.”

Suggesting the banks and financial institutions to invest in productive sectors like agriculture, Khatiwada said that they are competing for profit maximisation in the short term, which will not support economic growth.

“Development of the real sector is key for the overall economic development that will ultimately benefit the financial sector. There may be less profits but small farmers are also bankable and banks should look to the villages where there is immense opportunity.”

Long-term investment in the productive sector, despite low benefits, is sustainable, he suggested.

Sanima Bank — the 32nd commercial bank — will also help mobilise domestic and

foreign investment in the productive sectors, he said, hoping that Nepal Investment Year 2012-13 will benefit from the bank that is promoted by the Non-Resident Nepalis Association (NRNA) that could help invite foreign investment in the country. “The bank could help make Nepal Investment Year successful.”

Indicating that Sanima Bank will be the last commercial bank for the time being, the central bank governor also said that the paid up capital of a commercial bank is not the only measuring rod. “There are other indicators like good corporate governance.”

The bank’s chairman and president of NRNA Jeeba Lamichhane promised to maintain good corporate governance in the institution. “We have till date maintained good corporate governance and will continue to do so,” he said, adding that the bank is providing scholarships to some 16 students of 10+2 level apart from providing training to 40 youth in rural areas where its eight branches are located. “The bank has allocated Rs 5.3 million for such programmes,” he added.

Do not expect dividends soon

Central bank governor Dr Yubaraj Khatiwada requested investors not to expect dividends immediately. “Banks and financial institutions should be patient and increase their capital base instead of looking for immediate profits and dividends,” he said, suggesting them to maintain a capital adequacy which should be more than what the central bank has prescribed to cushion future risks. “The country is passing through a transition and banks and financial institutions, and investors should change their tendency of immediate dividends and rather think of a long-term strong capital base,” he warned.
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JC TO STUDY FAULTY COURT VERDICTS
Kathmandu, Feb. 29: Amidst growing criticism of the Judicial Council for not taking action against judges who have passed faulty decisions, the Judicial Council (JC) on Tuesday decided to study all such verdicts and judiciary notices, including the one passed by the Special Court acquitting former minister Jaya Prakash Gupta in 2007.

A meeting of the of the Judicial Council headed by Chief Justice Kheel Raj Regmi decided to study the verdicts in the aftermath of the recent Supreme Court direction to the JC to punish judges who gave clean chit to Gupta at the Special Court four years ago.

Judges Bhoop Dhoj Adhikari, Cholendra SJB Rana and Komal Prasad Sharma had acquitted Gupta. Adhikari has already retired while Shama and Rana are still in service.

According to a member who spoke on condition of anonymity, there were around ten judiciary notices and JC members would first study them before starting an official probe on the verdict.

The decision came amidst growing criticism of the JC for not taking action against judges despite Supreme Court rulings to investigate faulty decisions passed by lower court judges.

JC has the authority to take action against judges upto the level of appellate court.

Emerging from the meeting, Law and Justice Minister Brijesh Kumar Gupta said the meeting focused on ways to punish the three judges of the Special Court.

Similarly, the meeting also decided to add another 103 posts of district judges. It came after a JC committee headed by member Upenda Keshari Neupane found that the exiting 135 district judges were insufficient to handle growing number of cases at courts.

"The judges will be appointed in three phases over two years," said the member.

The meeting also discussed a new draft of the Judicial Council Act, but took no decision on it besides discussing appointment of justices at the Supreme Court.



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YCL PROTESTS WITHDRAWN AFTERLEADERSHIP COMMITMENT
Kathmandu, 29 Feb,. Following assurances from the party leadership, disgruntled members of the Maoist Young Communist League (YCL) have put off their protests, Republica reports.

"The leaders have made a verbal commitment to meet our demands. So, we have only put off the protest programs. We will wait till Monday," said Ashal Khadka, assistant co-coordinator of the YCL Magarat State Committee.

The agitating members decided to put off their protests after a two-member panel comprising leaders Netra Bikram Chand and Janardan Sharma, which was formed to finalize the relief packages for the YCL, assured them that embezzlements of the PLA fund would also be probed.

Over 3,500 PLA combatants had been recruited into the YCL in 2007 before UNMIN verification and they have demanded relief packages on par with the combatants who have received hefty paychecks. They have also sought investigation into the alleged embezzlement of the money meant for distribution among the YCL members.

Rs 1,000 was collected every month from each of the 19,000-plus combatants for five years for distribution among the YCL members, but the latter say they never received the money.

A meeting of the Maoist top office bearers on Sunday had formed a panel comprising Chand and Sharma to address the demands of the YCL members, who have threatened to seize the vehicles of party leaders and encircle Chairman Pushpa Kamal Dahal house if their demands are not met.

"Millions of rupees collected from PLA combatants in the name of YCL have been embezzled," claimed Dhrub Ghimre, coordinator of the YCL struggle committee.
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WITHOUT ELECTION, ELECTION ONLY OPTION SAYS DEUBA
Kathmandu, 28 Feb : Senior leader of Nepali Congress (NC) Sher Bahadur Deuba on Tuesday said that opting election to get a fresh mandate of the people will be the only option left if new statute is not drafted within the stipulated timeframe, greatwayonline.com reports.
Deuba, speaking at a press meet organised by Press Union in Dhunchhe of Rasuwa district, said that there exist great differences and dispute among the parties regarding various aspects of the new constitution.
Meanwhile, he said that the report presented by the State Restructuring Commission to federate the country along ethnic, linguistic and regional lines has only worked to make the already dire situation more complex.
Deuba claimed that if the report of SRC were implemented, then it would only create further chaos and anarchy in the country, adversely affecting the ongoing constitution writing and peace process.
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