Nepal Today

Friday, August 23, 2013


Kathmandu, 23 Aug.: Buddhi Maya Chapand ,60. was hacked todeadh at Gajuri in Dhading
Wednesday night st her home..
Busbamd Chandra Bahadur, 70, has also critically injured.

Kathmandu, 23 Aug.: With less than three months to go for the Constituent Assembly (CA) elections slated for November 19, Madhes-centric parties have started zeroing in on the federal model and form of governance the country should adopt, Pranab Kharel writes in The Kathmandu Post..
Almost all Madhes parties are pitching for two autonomous provinces in the plains, basing them on the majority report of the State Restructuring Commission (SRC) that has proposed 10 provinces with  two of them in the Madhes.
The parties are also for a parliamentary system of governance, where the prime minister would be elected from the legislature. However, the Upendra Yadav-led Madhesi Janadhikar Forum-Nepal (MJF-N) is in favour of a directly-elected president who will exercise executive powers.
According to the General Secretary of the Madhesi Janadhikar Forum-Loktantrik (MJF-L), Jitendra Dev, his party supports an improved form of the parliamentary system. On the federal set-up, Dev, who also heads the manifesto-writing committee of the party, said they are for 10 provinces, along the lines suggested by the SRC. “Our bottom line is that there should be two autonomous provinces in the Madhes--Madhes province and Tharuhat province,” he said.
He added that his party's manifesto demands that elections for provinces be held within one year of the promulgation of the constitution.The party which split from the MJF-N in July 2009, will be contesting the CA polls for the first time.
Sadhbhawana Party has also pitched for 10 provinces. According to leader Laxman Lal Karna, who heads the manifesto writing committee of the party, the two provinces in the Madhes would be named after consultations with the Tharu community. “As for the forms of governance, we are for a parliamentary system with executive powers vested on the prime minister,” he said.
The Rastriya Madhes Samajbadi Party, which split from the MJF-L in September last year, also said it favours the parliamentary system, where the prime minister, elected through a parliament, has the executive powers. “Though our position is for a single province, we could go for two,” said party spokesperson Izhar Mikrani.
The Tarai Madhes Loktantrik Party led by Mahanta Thakur said it has a similar take on both these issues.
Gold price hit its six-month high of Rs 58,500 per tola (11.664 gm) on Thursday, posting an overnight price rise of Rs 1,200, The KathmanduPOst writes..
Although there has not been a significant rise in gold price in the international market, the price of the yellow metal has surged by Rs 4,000 per tola in Nepal over the last one week. The surge in gold price has hit consumers planning to purchase gold amid nearing festive season hard.
Gold dealers have attributed the hike in the bullion price to the depreciation of the Nepali rupees against the US dollar. The exchange rate, which was at Rs 98.60 per dollar on Aug 15, reached Rs 101.47 on Thursday. The Nepal Rastra Bank has set the exchange rate at Rs 103.60 per dollar for Friday and traders forecast a further rise in gold price.
“This is one of the best trading seasons, prior to festivals, but customers will be hit hard with the increasing price,” said Manik Ratna Shakya, general secretary of the Federation of Nepal Gold and Silver Dealers Associations (Fenegosida). He said factors such as low supply and less customs duty compared to that of India have raised the risk of gold smuggling to India, creating a shortage here.
The local market demands over 35 kg gold every day. However, the government provision allows supply of only 15 kg a day from commercial banks. And, high demand and low supply has fuelled black marketing, according to dealers. Some dealers are selling gold at Rs 1,000-Rs 1,500 higher than the market price, taking advantage of the shortage, they said.
After the hike in import duty on gold by India last week, local dealers have being pressuring the government to increase the duty in Nepal to Rs 4,400-5,000 from the existing Rs 3,600 per 10 gm.
Ramesh Maharjan, president of Federation of Nepal Gold, Silver, Jem and Jewellery Association, said the failure to increase the customs duty in line with India would fuel smuggling and create shortage in the local market. “Gold is cheaper by Rs 880 per gram in Nepal than in India, which has increased the risk of illegal exports to India,” said Maharjan.
If the government sets the customs duty in line with India’s, customers will have to pay an additional Rs 900 per for 10 gm gold . India had increased the duty to 10 percent (equivalent to Rs 4,480 per 10 gm).