TEEJ BEING CELEBRATED Kathmandu, 18 Sept. : Women are celebrating teej Tuesday for the well-being of thir husbands with prayers and fast. All the four gates of Pashupatinath temple were opened since three in the morning for women devotees. Unmarried girls also observe festival hoping to find a suitable groom. Nnnn RULING AND TWO OPPOSITION PARTIES MEET TUESDAY Kathmandu, 18 Sept.: Ruling and two opposition parties meet Tuesday for the second time in three days meet later Tuesday to find an outlet to a continuing political deadlock. President Dr. Ram Baran Yadav Sunday told the Maoists and Madeshi Morcha in government and opposition NC and UML fresh election for a constituent assembly was the vest outlet. MORE VALLEY RAIN IN SEPTEMBER A RECORD Kathmandu, 18 Sept. : Kathmandy Valley has recorded over 400 mm in September so far though the normal rainfall for the month is 199 mm, Rajendra Shrestha, Senior Meteorologist, Meteorological Forecasting Division said. Monsoon this year started with a whimper and is ending with a bang. Widespread rain has been recorded from Mechi to Mahakali damaging highways and triggering landslides to block movement of vehicles. Below normal rainfall was recorded in the first three months of the monsoon this year from in June to August.. Shrestha said rainfall is expected to continue till 23 September Nnnn THREE FORMER CJs TELL PRESIDENT SNAP ELECTIONS OUTLET TO DEADLOCK, CRISIS Kathmandu, 18 Sept.: Three former chief justices (CJs)have advised President Dr Ram Baran Yadav that going for fresh elections is the best option for resolving the deepening political and constitutional crisis, Republica reports. The head of state sought advice from former chief justices Anup Raj Sharma, Min Bahadur Rayamajhi and Ram Prasad Shrestha with regard to ending the political stalemate a day after he had convened a meeting of leaders from major political parties and told them it was high time they found a political solution in consensus. One of the former chief justices, however, opined that reinstatement of the Constituent Assembly (CA), albeit only in the capacity of a legislature, might also be an option to end the stalemate. "All three former chief justices were one on the idea that fresh elections was the best option. But one of them also argued that CA reinstatement for a limited purpose and a brief period can be one of the alternatives provided the political parties reach an agreement to this effect," Surya Dhungel, legal advisor to the president, told Republica. Dhungel, however, did not name the former chief justice who advised the president that CA revival might be explored as an option. He said all three former chief justices gave special emphasis to fresh polls because the Supreme Court in its verdict had suggested that elections could be one possible option and also because the CA had already been extended for two years beyond its original two-year term. According to him, the former chief justice who argued that CA revival could be mulled as a possible option was also of the view that reinstatement of the legislative body would be for the purpose of removing constitutional as well as legal complications. "He was of the opinion that existence of the legislative body might ease the constitutional complexities for both forming a consensus government and going for fresh polls," Dhungel explained. He was quick to add that reinstatement of the 601-member body could only be in its capacity of parliament, not as the CA. The CA had earlier functioned both as CA and parliament. nnnn EVEREST INSURANCE TO FOLLOW REGULATOR’S INSTRUCTIONS Kathmandu,18 Sept.: Everest Insurance, which was recently locked in a head-on confrontation with the insurance sector regulator and had partially halted business operation in a sign of protest, has now softened its tone and tacitly agreed to abide by the instructions of the Insurance Board, Republica reports. In a letter to the Board, the non-life insurance company has said it had to temporarily stop issuing new policies as it had diverted its entire human resources to settling old claims which had piled up over the years. In a complete turnaround from its earlier threats of shutting down the entire company, Everest Insurance, in the letter, also said it was currently focused on improving the financial health of the company. “For this, we are mulling over cutting down the workforce and certain portfolios in the company,” an official of the Insurance Board said, referring to the content of the clarification extended by Everest. Whether this indicates the company´s intention of gradually folding up business is not known. But the Insurance Board officials have time and again said it is not easy for a publicly listed company to shut down its business operations. “For that, it has to take the consent of all its shareholders from a special general meeting,” the Board officials said. Everest Insurance, which had recently faced regulatory action for extending Rs 40 million in advance payment against an insurance claim filed by one of the firms run by one of its promoters, has been on collision course with the Insurance Board ever since it issued a directive on corporate governance. The directive, among others, bars insurance companies from generating business from its promoters, prevents one person from assuming the position of board director in multiple insurance companies and restricts more than one member of a family from assuming post of board director in the same company. Everest has said these instructions and other provisions in the directive that restrict board members to be part of various internal committees has made it difficult for the company´s directors to do business. Citing these reasons, the company had partially halted business operations and had even threatened to shut down the entire business. Following this, the Board had sought clarification from the company arguing how the set of instructions, which had not affected businesses of other insurance companies, affect one particular company. Although the company has now softened its tone, the Insurance Board officials have said this does not mean action will not be taken against the company. “We will formally take a decision in this regard through a board meeting which could be held as early as tomorrow (Tuesday),” a high-ranking official of the Board said on condition of anonymity. nnnn GOVT. FAILS TO PUBLISH MRP LIST IN GAZETTE Kathmandu, 18 Seot.: , The government failed to publish maximum retail price (MRP) in Nepal Gazette (Rajpatra) today [Monday], as it has promised, The Himalayan Times reports. Ministry of Commerce and Supply Management has promised to publish it today in the Gazette that could ensure the implementation of the MRP from today. “There has been not any preparation to publish it in the Nepal Gazette ,” said secretary of the Ministry of Law, Justice, Constituent Assembly and Parliamentary Affairs Bhesh Raj Sharma. “No file has reached the ministry related to maximum retail price,” he added. According to the process, concerned ministry should forward the file to Ministry of Law, Justice, Constituent Assembly and Parliamentary Affairs to publish notice in the Gazette. According to the Clause 1 of Essential Commodities Control (Authorisation) Act 1961, the government decision on maximum retail price becomes effective only after the publication in Nepal Gazette. Earlier governments had published MRP in the gazette six times during Panchayat period — between 1964 and 1971. But the law has not been in use since 1982. The UCPN-Maoist led government had set maximum retail price of 15 commodities on Thursday based on Panchayati period law, when the government used to have control over the market. The action has immediately drawn criticism from private sector — Federation of Nepalese Chambers of Commerce and Industry — and consumer groups as it was ‘against open market operations’ and ‘based on false price’, due to the changed economic model of the country currently. Similarly, economists have also claimed that it would be difficult to be implemented and the government is promoting cartel officially through the maximum retail price. Now, their doubt seems to be turning to reality. “The government is cheating consumers with false promises,” said general secretary of Forum for Protection of Consumer Rights-Nepal Jyoti Baniya, commenting on the government commitment to MRP. “We believe that it is only a publicity propaganda,” he said, adding that consumer groups believed that the MPR will be published in the gazette as it was already attested by the caretaker Prime Minister Dr Baburam Bhattarai. Dr Bhattarai had attested MRP on Friday and directed to publish it in the Nepal Gazette. However, line ministry — Ministry of Commerce and Supply — said that following technical problems, the MRP could not be published today. “It will be published soon,” a senior officer at the ministry said. Meanhwile, the Confederation of Nepalese Industries (CNI) has also shown serious concern over the government’s market controlling policy. “At a time, when the world is moving towards the open economy, the government is backtracking,” it said, adding that the price hike in the domestic market depends on more non-economic factors like cartel of transportation and the government, despite improving the supply system, is trying to control the market that will fuel the informal economy. Two sides of the law • The government can set maximum retail price (MRP), according to the Essential Commodities Control (Authorization) Act 1961. Its Clause 3, sub-clause 2(b) states “the government can regulate or control storage, distribution, trade or consumption of any essential commodity on issuing a licence or by using any other method’. However, the MRP decision come into enforcement once the government publish ‘Notified order’ under Clause 2 (b) in the Nepal Gazette. • Voilation of MRP is punished under Black-marketing and Some Other Social Offenses and Punishment Act 1975. Clause 8 of the law states, “black marketers can be fined up to Rs 25,000 or receive a prison sentence of up to five years. If there is a claim for compensation, the claimed amount is added to the fine if it is more than Rs 25,000.” Nnnn TOP DELEGATION GOING TO CHINA TO DISCUSS INTEREST FOR INVESTEMENT IN POKHARA AIRPORT CONSTRUCTION Kathmandu, 18 Sept.: Prime Minister Baburam Bhattarai today said that a high-level government team will fly to China next week in order to hold talks with the Chinese Exim Bank regarding the construction of the Pokhara Regional International Airport, The Himalayan Times reports from Pokhara.. “The Nepali team is going to China to clear the confusion over the model of the purposed airport,” said Bhattarai, reiterating his commitment for early start of the construction work. Addressing a press conference at the Pokhara Airport after inaugurating the 13th general assembly of the Pokhara University, he said the government had purposed the D4 model costing about US $170,000,000. “However, the Chinese side has proposed a much higher cost under the better E4 model out of confusion,” he said, urging the agitators to call off the ongoing strike. Further expressing his commitment to maintain transparency in the construction of the airport, he denied the speculations that the obstruction in the project had something to do with the Indian interests. All government offices in Kaski remained closed due to the hunger strike led by the Airport Construction Concern Committee in front of the Pokhara Airport today. The Chinese Exim Bank has given till September 20 to select from the three companies that had participated in the tender process. Among the three companies, who had participated in the tender process, China CMC is learnt to have proposed the minimum bid of US $305,000,000. nnnn