BRIEFS (Spotlight Weekly)

King Birendra at "Basanta Shrawan" ceremony at Hanumandhoka

Nepal Rastra Bank (NRB), the central bank of the country, has asked the finance companies that have been in existence for more than five years and are running in profit to issue shares within the next six months. The bank issued this directive to make the financial activities of these companies transparent and accelerate their businesses. According to a report in the Himalaya Times, the profit-making finance companies have to issue the shares within six months while those incurring losses will have to start preparing for the same. According to NRB, there are 48 different finance companies in existence and their combined capital is worth nearly Rs 1.49 billion -- till the fiscal year 2000/2001. Compiled from reports

The visiting President of Asian Development Bank (ADB) Tadao Chino pledged the bank's assistance to the Commission for Investigation of Abuse of Authority (CIAA). Mr. Chino met with the chief of CIAA, a constitutional body formed to probe cases of corruption, on Thursday and promised assistance to the commission as its role was vital for good governance. According to CIAA officials, the commission is not well equipped to handle its job. It does not even have equipment like cameras and tape recorders. Apart from ADB, other donor agencies, too, are showing interest to assist the commission, say its officials. Leading dailies report

The winter session of parliament will convene on February 8, Thursday at 4:00 p. m. at Singha Durbar, Parliament Secretariat announced Wednesday citing a royal communiqu. King Birendra has summoned the 19th session of the Parliament as per the country's constitution, the Secretariat said. RSS news agency reports.

During the first five months of current fiscal year 2000/01, total government expenditure has decelerate due mainly to a deceleration in the growth of regular expenditure despite a significant growth in development expenditure, Nepal Rastra Bank (NRB) said. During this period, budget deficit of more than Rs 4.1 billion was recorded, the Bank said. The rate of inflation, on point to point basis, was recorded at less than 3 percent due mainly to decline in the prices of food and beverages group. On the external front, exports registered a decelerated growth of 29.3 percent to Rs 24616.8 million. Exports to India grew by 38.1 percent whereas exports to third countries grew by 22.8 percent only. On the other hand, imports growth decelerated to 11.6 percent during this period from 38. 2 percent over the same period last year, the central bank said.

The committee formed to probe the violent incidents of December 26, 27 and 31, which followed the rumors that an Indian actor Hrithik Roshan allegedly made disparaging remarks about Nepal and Nepalese people, submitted its report to Deputy Prime Minister and Home Minister Ram Chandra Poudel on Thursday. According to Home Ministry, the suggestions made in the report mentions the responsibility concerning the national security, rumor management, responsibility of the central security committee, management of security personnel, use of arms and ammunitions and review of the authorities. Meanwhile, in another development, the parliamentary Foreign Affairs and Human Rights Committee has decided to direct the government to suspend Shyam Prasad Mainali, Chief District Officer of Banke. The committee, in its report, has alleged Mainali of misusing his power in the shooting incident two weeks ago at Branch Central Jail at Banke that resulted in the death of two inmates.

Charge d'Affaires of the Embassy of Japan in Nepal Takamichi Okabe attended the headrace tunnel breakthrough ceremony held at the Kaligandaki A Hydroelectricity Project recently. Along with distinguished officials of Nepalese government, Okabe observed the construction activities of the 144 MW strong run-of-the-river project. The project will add its power to the present installed capacity of 389.57 MW