UPDATE VEHICLES VANDALIZED DURING STRIKE IN CAPITAL Kathmandu, 20 May: Several vehicles were vandalized by activists of Nepal Federation of Indigenous Nationalities (NFIN) Sunday in the capital during their nation-wide strike. More than 30 workers have been arrested. NFIN has called a nation-wide strike. nnnn .MAOIST CHIEF PREDICTS NEW AGREEMENT SUNDAY ON FEDERALISM Kathmandu, 20 May: Maoist Chairman Pushpa Kamal Dahal Saturday claimed that parties would strike a new deal on federalism on Sunday and forward the constitution writing process, Republica reports from Chitwan. "There are some issues that need further clarification from us, and they would be settled through dialogue," said Dahal speaking at the golden jubilee program of Narayani Higher Secondary School in Chitwan. Speaking at a separate program organized to mark the Sakela festival of Kirat community in Kathmandu, Dahal said there would be an agreement on provinces ranging from anything between six to fourteen. He further said the provinces would be based on single-identity. He complained that he felt encircled by various forces who criticised his every move. "I would have been criticized whether the agreement was reached or not," Dahal said, referring to the agreement on 11-province model and requested people to understand the difficulties he has been facing. nnnn ________________________________________ TOP UML AND DEPUTY PRIME MINISTER ISHWOR POKHREL SHOCKED WITH MADESHI VOLTE FACE Kathmandu, 20 May: Deputy Prime Minister and CPN-UML General Secretary Ishwor Pokharel on Saturday that the United Democratic Madhesi Front (UDMF)´s abrupt volte face on the 11-province federal model has taken him aback, Republica reports from Banepa. Pokharel, a key interlocutor involved in inter-party negotiations, revealed that the deal on the 11-province federal model was struck following an understanding with Madhesi People´s Rights Forum-Democratic (MPRF-D) Chairman Bijaya Kumar Gachchhadar, who is also the coordinator of UDMF. Inaugurating the convention of UML Area Number 2 of Kavrepalanchowk district, Pokharel expressed shock over Gachchhadar´s move. Pokharel said though the parties still differ on the number and names of provinces, the UML would not backtrack from the agreement on 11-province federal model reached on Tuesday. “Differences persist among the parties on the number and names of provinces. But the UML would not backtrack from the 11-province federal model,” he said. Pokharel, however, claimed that new constitution would be promulgated by May 27 even if UDMF and other ethnic fronts stage protests. “Since Nepal is a multi-ethnic country, UML is firm in its stance not to support the idea of forming ethnic-based provinces,” he said. He said the provinces would be delineated in line with linguistic, cultural, geographic and historical identity of the region concerned. On the occasion, Pokharel also stressed on the need for addressing issues such as returning the properties seized during the Maoist insurgency, punishing gross human rights violators and probing into the cases of disappearances. Nnnn ________________________________________ SHYAM SUNDAR GUPTA CAN’T VOTE IN CA; COURT DECISION CRITICIZED Kathmandu, 20 May: Although the Supreme Court (SC) has directed Constituent Assembly (CA) Chairman Subas Nembang to ensure that convicted CA member Shyam Sundar Gupta can take part in the voting process on the constitution, parliament sources said the SC verdict cannot be executed if the CA regulations are to be adhered to, The Himalayan Times reports. Gupta is in jail on the charge of kidnapping and taking businessman Pawan Kumar Sanghai hostage for ransom. In its ruling on May 15, a joint SC bench had directed the CA chairman and CA secretariat to make arrangements to enable Gupta can take part in the CA voting process for endorsing the new constitution, arguing that his membership still remained valid even if he was in jail as ordered by Kathmandu District court. Gupta had petitioned the SC seeking a mandamus order to enable him to take part in all CA proceedings, claiming that his CA membership had not been terminated. “It’s incompetent judgment on the part of the SC to issue an order without considering the Interim Constitution and CA regulations,” said a parliamentary source. According to the Interim Constitution and CA regulations, CA and parliamentary proceedings take place in the CA building in the International Convention Centre (ICC), Baneshwor, and a sitting CA member has to be present in person in the CA hall to participate in the voting process. When the voting process to endorse the new constitution begins, the CA Chairman rings the bell for five minutes calling all members to be present in the CA hall within that period. Then, the CA chairman orders the Marshals to close all doors and windows in the CA hall before CA members start casting votes on any motion tabled in the CA. If a CA member, by whatsoever reason, does not take his/her seat in the CA hall within that time, s/he has to stay outside till the voting process is over. “This rule applies to Gupta as well,” said the source, adding, “Nor can CA officials take all the papers to Dilli Bazaar jail to collect his vote, either.” It should be recalled that veteran leaders like former prime ministers Surya Bahadur Thapa and Madhav Kumar Nepal, were also barred from entering the parliamentary hall for failing to show up within the time set. nnnn TECHNICAL FAULTS HIT SHARE MARKET Kathmandu, 20 May: The positive political development of last week did not spill over to the share market as the stock exchange struggled with technical difficulties throughout the week –– May 13 to 17, TheHimalayan Times reports.. The index gained a mere 1.3 per cent –– that is 4.97 points –– on the week’s trading. Transaction volume shrunk by 43 per cent as the stock market’s operation was hindered by technical glitches in the trading system and due to operations of circuit breakers that came into action when the Nepse index swung too high or too low. The connection problem with Nepse’s server caused difficulties for brokers to place their clients’ orders affecting the stock price and transaction volume. Last week, major political parties agreed on the number of states for the soon to be designed federal Nepal –– an issue that had been a bone of contention among the parties for a long time. A month ago, a similar resolution regarding the integration of combatants had propelled the recent rally in the market. However, Nepse did not see any such repeat performance this time. As brokers struggled with the intranet connection with Nepse, the stock exchange witnessed trading worth Rs 369 million of 934,495 unit shares belonging to 104 companies in 5479 transaction. The trading of stocks belonging to class ‘A’ companies consisted of 77.99 per cent of the total transaction worth Rs 287.9 million. The sensitive index which measures the performance of blue chip stocks went up by 1.09 points to 105.53 points. Likewise, the indicator of the performance of actual shares traded –– float index –– also went up by a marginal 0.34 points to 33.09 points. This week all the subgroups were successful in registering gains. Hydropower gained the most as its index went up by 38.72 points, followed by insurance that gained 22.7 points. Due to Nepal Telecom’s gains, others registered a gain of 14.1 points. Manufacturing also gained 6.54 points. Commercial banks, development banks and finance companies earned 1.34 points, 2.47 points and 1.5 points, respectively. Bank of Kathmandu –– that has become the major puller at Nepse –– topped the charts in trading volume, transaction and number of shares traded with trading of 149,545 million unit shares worth Rs 96.9 million in 717 transactions. The top five performers of the week were Bank of Kathmandu (Rs 96.99 million), Everest Bank (Rs 28.47 million), Chilime Hydropower (Rs 24.98 million, Standard Chartered Bank (Rs 20.52 million) and Nabil Bank (Rs 19.60 million). This week, along with Bagmati Development Bank’s ordinary shares, 1.5 million units of bonus shares of three other financial institutions got listed at the stock exchange. nnnn