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| VOL. 27, NO. 20, January 25, 2007 (Magh 11 2064 B.S.) |
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THE WINTER SESSION OF THE INTERIM PARLIAMENT ended from Wednesday (Jan 16) evening after nearly three months in business. Speaker Subas Nemwang told the House that the winter session had concluded. He made the announcement after discussions with Prime Minister Girija Prasad Koirala and the chief whips of the parties in the parliament. Nemwang described the winter session as being historic in that it passed a number of important legislations, including the 3rd amendment in the interim constitution declaring Nepal a federal democratic republic, subject to endorsement by the first meeting of the constituent assembly. Altogether 13 bills including the bill related to constituent assembly election were passed during the winter session. The winter session had gone into prolonged recess several times as the parties engaged in deliberations to iron out their differences over the constitution amendment proposal.
Compiled from reports
US AMBASSADOR TO NEPAL Nancy J Powell Friday (Jan 18) said that Nepal should take the issue of economic development as importantly as it does the CA polls preparations. Warning that the country might have to rely on the mercy of foreign countries if it cannot increase its economic growth rate, the US envoy suggested that Nepal should stop relying on foreign donations in the coming decades. Speaking at a program organized by Pokhara Chambers of Commerce, Powell pointed out that the peace process will remain in danger as long as the country fails to gain in its economic growth rate. Stating that the country can increase its economy through tourism, hydroelectricity and cultural diversity, the US ambassador underscored the need for the next elected government to give top priority to the issues. Powell, who reached Pokhara on Wednesday, is busy holding discussions with people from various sectors, including local political leaders and security agencies.
THE SUPREME COURT ON FRIDAY (Jan 18) directed Nepal Telecom to appear before it on Monday to discuss whether a stay order on the share announcement case should be issued. A single bench of Justice Min Bahadur Rayamajhi issued the order acting on a writ petition filed by advocates Jyoti Baniya and Ram Chandra Simkhada yesterday. They demanded that the telephone customers' deposits be converted to their shares and the remaining shares be then announced publicly. The lawyers filed the PIL after NTC turned down their demand. Advocate Laxman Thapaliya recently filed another petition challenging the share announcement.
THE CONSTRUCTION OF INTEGRATED CHECK POST to better manage Indo-Nepal border trade and security will begin within six months. According to a report in Kantipur daily, the meeting of the project mobilization committee on border custom infrastructure held in New Delhi decided, on Friday (Jan 18), to develop the project on fast-track basis. The meeting is said to have prepared a detailed project report on the Birgunj-Raxaul border point. "It has been agreed to start construction within six months," said Pradhumna Shah, chief of SAARC Desk at the Foreign Ministry, who had participated in the meeting. Similar infrastructure would also be constructed at Jogbani-Biratnagar, Sunauli-Bhairahawa, and Rupediya-Nepalgunj points.
NEPAL RASTRA BANK (NRB) has decided to contract out Nepal Bank's management to a team of Nepali professionals, initially for a period of two years. The central bank, on Tuesday (Jan 15), called for bids with technical and financial proposals by February 22. Interested Nepali individuals, firms, companies having qualifications, eligibility and adhering to the terms and conditions can submit their bids, according to the bank. "The management team should include chief executive officer, chief credit officer, treasury manager, chief operating officer," said K B Manandhar, acting governor. The bidders may form their teams by optionally including one foreign consultant with hands-on international experience. "The initial contract will be for two years, but it may be extended mutually," Manandhar said. The bidders must also submit tax clearance certificates and individual self-declaration of proposed candidates for being eligible and qualified to participate legally and work full time. It will take another one month to completely hand over the contract as it will take time for verification process and for obtaining no-objection from the World Bank, which has been assisting the financial sector reform program, Manandhar said. "The NBL management contract is part of the financial sector reform program that started in 2002." The troubled Nepal Bank Ltd is being managed by a team headed by Dr Binod Atreya under the supervision of the central bank. NRB appointed Dr Atreya's team about six months ago, when the foreign management team of the Bank of Scotland ( Ireland) Ltd, ICC Consulting decided to walk out suddenly, unhappy over NRB's decision to extend the contract for another three months. An unaudited report proves that Nepali management team is capable of handling the bank as its financial health has been improving, Dr Atreya said. The foreign management team has downsized staff, computerized 44 branches, prepared operational and HR manual. Reform has also helped modernize the ailing bank and made it more professional and reduced non-performing assets from a whopping 59 percent to 13 percent. The bank, apart from injecting fresh blood, has also started reinstating its branches that were displaced due to the armed conflict.
