FLOOD WATERS ENTER HUTS IN MANAHARA Kathmandu, 13 Sept.: Three days of continuous rains washed way nearly 800 huts along with domestic animals of squatters along Manahara Khola west of the capital until Thursday morning. Water has entered huts in the settlement. Government was planning to shift settlers from Thapathali along Bagmati river to Manahara where bird flu broke out last year. nnnn. ONLY 1,567 FORMER MAOIST COMBATANTS APPLY TO JOIN STATE ARMY Kathmandu, 13 Sept.: A week after the selection process resumed, 1,567 former Maoist combatants have filled up integration forms in the seven cantonment sites, The Kathmndu Post writes.. Officials speculate that a few more fighters could attend the process on Thursday, the last day to submit the forms. The number is 1,200 less than the list of 2,767 aspiring former PLA fighters submitted by the party to the Special Committee Secretariat. “The figure that has come out today [Wednesday] evening is the tentative number of the aspiring candidates. The final list will come out only next month after the written examination and interview,” said Balananda Sharma, the coordinator of the Secretariat. Meanwhile, it was revealed that the Maoists had short-listed 3,123 ex-fighters awaiting integration and submitted the names to the Special Committee. The list of 2,767 combatants obtained by the Post on Wednesday has the names, addresses and divisions, while it proposes ranks for them in the Nepal Army. Maoists have recommended first division commander Yam Bahadur Adhikari for the post of colonel. They have recommended two lieutenant colonels, 30 majors and 48 captains, among others, from the seven divisions. Not satisfied with the list, combatants accused the party of nepotism while preparing the list. “The party has arbitrarily recommended the names of the combatants and their ranks. Many of us are not satisfied with it,” said combatant Anil Bam of the sixth division in Surkhet. Over 60 former fighters who returned to the Dashrathpur camp to participate in the integration process are in a state of uncertainty after they failed to find their names in the list. Secretariat coordinator Sharma said the list is just a recommendation to facilitate the process and that a final call on the selection will be taken by the Army. The Army has started selecting commanders aspiring to join the officers’ rank. Altogether 89 combatants, including five women, filled up forms at the Army’s central regional school, Chainpur, Chitwan. Seven combatants, including five who fail to meet the height requirement, failed the selection test for officers in Chitwan, according to the Army. Meanwhile, the Secretariat’s plan to start distributing pay cheques from Wednesday to fighters who switch over to voluntary retirement has hit a snag. The distribution has been deferred until Friday after the government failed to release the amount. nnnn CONTROVERSIAL PAINTING EXHIBITION STOPPED ON POLICE INTERVENTION Kathmandu, 13 Sept.: Metropolitan Police Range, Hanumandhoka today [Wednesday] said a painting exhibition by artist Manish Harijan in Babar Mahal-based Siddhartha Art Gallery since August 22 was halted for the moment, according to excerpts from The Himalayan Times SSP Jaya Bahadur Chand, MPR in-charge informed that a decision to this effect was taken to investigate the complaint of blasphemy resulting from the paintings of Hindu deities put on display. Tension arose in the gallery after World Hindu Federation activists allegedly warned the artist against displaying the combo images of Hindu deities and Western superheroes. “Kathmandu CDO and myself visited the gallery and observed the work of arts displayed there and requested the organiser to halt the exhibition for the moment until an investigation into the controversy was carried out,” SSP Chand said. Kathmandu CDO Chuna Mani Sharma informed that the investigation would conclude in the near future. According to police, a formal complaint against the alleged death threat to the artist has not been received. “It would help us establish the fact if a compliant in writing was lodged with police,” SSP Chand said. Nnnn CLASS A,B FINANCIAL INSTITUTIONS ALLOWED TO INVEST ABROAD Kathmandu, 13 Sept.: The central bank has opened up investment by class ‘A’ and ‘B’ financial institutions in foreign countries, The Himalayan Times reports. In line with the monetary policy, Nepal Rastra Bank (NRB), issuing a circular today, has allowed commercial banks and national level development banks to invest 30 per cent of foreign currency deposits at their agency banks abroad in low risk instruments for a maximum of two years. The circular states that banks can only deposit 25 per cent of their total foreign exchange liabilities in agency banks abroad. Moreover, banks have to maintain a minimum foreign exchange balance of $200,000 to meet payment necessities. While introducing the monetary policy, NRB had announced that banks with foreign currency in their agency banks abroad would be allowed to invest a part of their balance in minimum risk instruments, signalling a policy to open up the country’s capital account. “Banks can invest up to 30 per cent of their total balance in their agency banks in minimum risk instruments such as foreign government issued bonds, call deposits and certificate of deposit,” said spokesperson for NRB Bhaskar Mani Gyanwali. Banks will be able to make some money by investing instead of keeping their balance idle in foreign banks, he added. However, banks cannot obtain loans from foreign banks for investment purposes. Moreover, NRB has also allowed banks to hedge the risk related with foreign exchange rate fluctuation through derivatives instruments provided banks keep enough foreign currency to cover their forwards exchange contract in their agency banks as deposits. The banks are allowed to invest in derivatives such as forward, futures, options and swaps. nnnn