PM CALLS FOR COOPERATION ON DEMOCRACY DAY Kathmandu, 18 Feb.: President Dr. Ram Baran Yadav has extended best wishes to all Nepali brother and sisters in the country and abroad on the occasion of the 63rd National Democracy Day-2069 today [Monday], RSS reports.. In a message today, President Dr. Yadav said although the 2007 revolution ended autocratic Ranarchy and brought forth social and physical changes in the country, the major national expectation of democratic system and values were yet to be realized. Expressing disappointment over the demise of the Constituent Assembly without delivering constitution that Nepalis aspired much after the second jana andolan, President Dr. Yadav said the end of present political and constitutional deadlock has been the pressing need. In the message, he said becoming honest, dutiful and hopeful to reach the destination despite failures is real characteristics of a true democrat. In order to materialize the democratic commitments and dreams, the election to the CA on national consensus was only option we have at present. On the occasion, the President said he hoped that all Nepalis would be able to strengthen the national integrity, unity and sovereignty and establish peace and order through cooperation, consensus and mutual trust. In a similar message, Vice-President Parmananda Jha said the Democracy Day is unforgettable in Nepal's history in making the autocratic ranarchy cower before the people's rights. Adherence to democratic values was the only tool to achieve progress, prosperity and stability, he stressed. Moreover, Prime Minister Dr Baburam Bhattarai, expressed best wishes to all Nepali brother and sisters in the country and abroad on the occasion of Democracy Day. He urged all Nepalis for solidarity and cooperation to institutionalize democracy in Nepal. PM Bhattarai also expressed tribute to the martyrs who sacrificed their lives in different movements for progressive change. He also pointed out the need of the consensus and cooperation for durable peace in the country. nnnn Nepal Army have safely managed to dispose a set of 36 hand grenades, recovered near Army's (Devidutta Battalion), in Libang, Rolpa on Sunday. A technical team deployed from the battalion detonated the explosives in the evening, Devidutta Battalion informed. The locals informed the Army after they discovered the grenades on the way to Dhanmuda village. The villagers were terrorised after they found the explosives. Later, after they were detonated a feeling of security and relief spread among them. It is suspected that the weapons may have been placed their during the insurgency period. Nnnn TASK FOIRCE PROPOSES 11-MEMBER NEUTRAL CABINET UNDER CJ Kathmandu, 18 Feb. : The taskforce comprising two members from each of the four major parties -- UCPN (Maoist), Nepali Congress, CPN-UML and United Democratic Madhesi Front (UDMF) -- has finalized a draft “consensus” agreement on the formation of an 11-member neutral cabinet led by chief justice to hold fresh election to the Constituent Assembly (CA), Kosh Raj Koirala writes in Republica.. Top leaders of all the four major parties are scheduled to make a formal announcement in this regard Monday as the taskforce could not complete “necessary homework” on recommending President Dr Ram Baran Yadav to resolve constitutional difficulties in the Interim Constitution to pave the way for holding polls. "We have already settled all issues relating to the fresh polls. The agreement will be formally endorsed by the meeting of top leaders scheduled for Monday morning,” a member of the taskforce told Republica. Talking to media persons after a four-party meeting held at the president´s office in Shital Niwas Sunday evening, UML Vice-chairman Bamdev Gautam said they have decided to sit for another round of meeting Monday morning as the taskforce entrusted with preparing the draft proposal could not complete its works. Leaders involved in the negotiations said there has been an agreement to form an 11-member Interim Election Council or Interim Election Council of Ministers under the chief justice to hold fresh polls. All the members of the proposed mechanism will consist of neutral candidates and technocrats. “Though we have agreed on eleven members, top leaders may even decide to increase the number,” said the taskforce member. Likewise, the taskforce has reached an understanding on 490-member CA-cum-parliament, including 240 members directly elected under the first-past-the post system and 240 other members elected under proportional system. Likewise, 10 other members would be nominated by the cabinet. The council led by chief justice will only have the mandate to hold fresh CA polls by mid-July. The parties have also reached an understanding to appoint senior-most justice in the Supreme Court Damodar Prasad Sharma as acting chief justice until the Chief Justice Khil Raj Regmi heads the council. Regmi will be relieved of his duty as the chief justice until he resigns from the council after successfully holding the polls. Though all other issues have been more or less settled, the issue related to voters´ registration, especially in the Tarai has become a bone of contention among parties. As the taskforce members from Madhes-based parties argued that a large number of their voters are yet to get registered, there has been an agreement to settle the issue through a high-level political consultation. Citizenship certificate is a must for one to get registered in the voters´ list as per the existing legal provisions. Maoist leader Amik Sherchan told media persons after the meeting that discussions were heading in a positive direction. “Since the taskforce is yet to complete its work, we have decided to sit for another round of meeting on Monday,” he said. A meeting of top leaders of the four major parties scheduled for 10 am will take a decision on voters´ registration and delineation of electoral constituencies based on the 2011 census. The parties have also reached an understanding to appoint former acting election commissioner Neel Kantha Uprety as chief election commissioner and another former acting chief commissioner Dolakh Bahadur Gurung and former commissioner Ayodhi Prasad Yadav as EC commissioners. Meanwhile, top leaders of the major parties on Sunday formally requested Chief Justice Regmi to head the proposed council for holding the fresh polls. The leaders made such a request when the chief justice reached the president´s office to submit an annual report of the Supreme Court to President Ram Baran Yadav Sunday afternoon. Nnnn GWOWTH FORECAST DOWNGRADEED TO 4..2% Kathmandu, 18 Feb.: The government has revised down the growth forecast for fiscal year 2012/13 to 4.2 percent from the previous prediction of 5.3 percent due to lack of full-fledged budget and weak capital spending over the first six months of the current fiscal year. Presenting mid-term review of the budget on Sunday, Finance Minister Barsha Man Pun said the budget failed to speed up capital spending despite arranging sufficient budget for crucial projects. The government had ensured sufficient fund to National Pride Projects and Priority One (P1) projects. It had also made arrangement to provide matching fund for projects run under foreign assistance. “Despite these attempts, the mid-term review shows capital expenditure could not go up as expected,” said Pun. The government managed to spend only Rs 104.12 billion in the first half -- Rs 86.90 billion in regular expenditure and Rs 7.66 billion in capital expenditure -- during the period. “Total expenditure recorded during the period is 29.59 percent of the total allocation made in the budget ordinance,” said Pun. Keeping in view the weak capital spending, Pun urged concerned officials to become more active in limiting recurrent expenditure and driving up capital expenditure for the remainder of the fiscal year. He, however, praised officials and private sector for extending support to the government in the task of managing public expenditure and mobilizing revenue. During the review period, bank and financial institutions (BFIs) reported a rise in deposit mobilization and internal loan disbursement by 5.3 percent and 6.1 percent respectively. However, their liquidity declined by 15.1 percent compared to the figures recorded in the same period last year. Total exports from Nepal rose by 9.3 percent to Rs 39.25 billion, while imports shot up by whopping 25.2 percent to Rs 271.30 billion during the period. The government succeeded to mobilize Rs 134.56 billion in revenue in the review period, up by 21.2 percent compared to the amount reported during the same period last year. Similarly, the government received commitment for financial assistance worth Rs 15.76 million, which includes Rs 14.5 billion as grant and Rs 1.71 billion as loan, from donors in the first half of 2012/13. Inflation during the period stood at 10.7 percent. Minister Pun also informed that the government widened roads spanning 35.9 km roads in Kathmandu Valley during the review period. With this, the total length of roads expanded under the government´s recent widening drive has so far reached 102 km. Similarly, the government has completed track opening works on 13 km segment, graveling on 4 km segment and constructing four bridges along western section of Mid-Hill Highway - one of the national pride projects. So far, the government has constructed 23 bridges and black-topped 18 km stretch on the eastern section of the highway. Likewise, the government has completed track opening works on 6 km stretch of the proposed Kathmandu-Tarai Fast Track and distributed compensation to owners of 60 hectares of land covered by the proposed Jainagar-Janakpur-Bardibas Rail and Metro Development Project. Key figures Capital expenditure: Rs 7.66 billion Regular expenditure: Rs 86.9 billion Inflation: 10.7 percent Revenue growth: 21.2 percent Road expansion: 35.9 km in the valle Nnnn