With the aim of resolving the problem of petroleum shortage, the government has decided to provide guarantee for loans worth Rs 1.2 billion for Nepal Oil Corporation (NOC).

According to government spokesperson and Information Minister Krishna Bahadur Mahara, the government has decided to instruct Employees Provident Fund (EPF) to provide loan of Rs 800 million and Citizen Investment Fund (CIF) to provide loan of Rs 400 million to the NOC on its guarantee.

The government hopes that the loan amount will help NOC pay some of its dues to Indian Oil Corporation (IOC), which would then ease the supply of fuel. Currently, the bandhs in Terai as well as lack of adequate supply have triggered acute shortage.

In the last few days, the fuel shortage has worsened. On Tuesday, long queues of vehicles could be seen in petrol pumps that sold the fuel.

Amid worsening security situation in Terai, two district-level leaders of Nepali Congress (NC) and NC-Democratic have been shot to death by unidentified group on Monday in Nawalparasi district.

Armed assailants who came on two motorcycles opened fire and killed Bechayi Yadav of NC-Democratic and Govari Yadav of NC at Bhujahawa area.

Bechayi Yadav was an influential Congress leader of the area. He had been displaced from his village due to constant Maoist threat in the past. He had returned after the peace agreement.

In recent months, spate of killings have gripped Terai area. There have been a number of tit-for-tat killings of local leaders of Maoists, and armed factions. However, this time two Congress leaders have been killed by unidentified group.

The Nepal Stock Exchange (Nepse) index made history in its 13-year-long existence when it crossed the 600 mark for the first time on Tuesday. Trade analysts attributed the rise to a continuous rise in share prices caused by the remarkable confidence shown by investors in stock trading.

The Nepse opened at 598.52 points Tuesday morning and ended at over 602 points, with shares of commercial banks and hydropower companies gaining.

According to the Himalayan Times, of the 40 leading scrips traded Tuesday, more than 90 percent of them gained in a range of Rs 1 to Rs 75 per share and only five companies were the losers among them.

The Nepse index has been soaring high for the last six weeks with investors making largely speculative buying amid rumors of persistent growth in share prices.

The Himalayan Times reported that the market has been overheated on speculation that the “financial institutions would soon announce positive annual financial results, as the book for this fiscal year is being closed in a week or so”.

“A rush of gullible and new investors is taking stock trading to a new high these days,” senior official at Nepse told the daily. He, however, warned that the current growth is “not justifiable in accordance with the country’s economic performance and actual financial health of the listed companies”

Terming the current Nepse as a ‘rumour-driven market’, the official also warned that the market could crash any day, if the existing speculation-dominated trend continued.

The government has formed a new 16 member National Dalit Commission for the period of two years. Earlier, the government had appointed Bhagwat Biswasi as the chairman of the commission.

The new members of the Dalit commission which is there to work for the rights and welfare of the Dalit people include Santoshi BK from Rolpa, Durgi Pawan from Dhanusa, Khadga Bahadur Basyal from Surkhet, Bangali Hajara Paswan from Bara, Karna Bahadur Chunar from Rupandehi, Hom Khati from Dolakha, Sharada Swarnakar from Dang, Bikram Ram from Bara. The remaining are member secretaries.

In order to internationalize the Bhutanese refugee problem, which remains as a thorn in the bilateral relations between Nepal and Bhutan for the past 16 years, the government has given the Bhutanese refugees living in Nepal permission to seek resident visas in third countries, Kantipur Daily reports.

It has been stated in the decision recently taken by foreign and home ministry that
“Bhutanese refugees would be given permission to begin process for resident visas in third countries”.

After 15 rounds of talks between Nepal and Bhutan on the fate of Bhutanese refugees living in 7 camps in eastern Nepal failed to bear fruit, the government had extended its support to the refugee rehabilitation process that started 4 years ago.

The Asia pacific regional conference of the Non Resident Nepalis Association (NRNA) is scheduled to be held in Singapore on July 14 and 15.

In a statement, NRNA vice president for Asia Pacific, Devman Hirachan, said more than 120 members from the region and Europe including NRNA International Coordination Committee (ICC) president Dr Upendra Mahato, FNCCI and Tourism Board representatives are participating in the conference.

Issues like the networking between NRNs in Asia Pacific, their contribution to the nation, NRN laws, internal matters of the organization and the third global conference of NRNA would be discussed.

According to NRNA spokesperson, Dr Jugal Bhurtel, the third global conference would be held in Kathmandu in October this year.

An unidentified armed group has abducted a civil servant in eastern Terai district of Saptari, Wednesday morning.

Ashok Kumar Singh, an overseer at the District Development Committee (DDC), Saptari was abducted by a group of armed men while he was sleeping at his home in Rajbiraj Municipality-7 at 2 am in the morning Wednesday and taken to an unknown destination, according to police.

Although no group has claimed the responsibility of the abduction as yet, the police suspect one or the other faction of Janatantrik Terai Mukti Morcha (JTMM) for it given that the outfit has been involved in most of the killings, abduction and similar crimes in terai of late.

Meanwhile, police finally secured the safe release of Narayan Neupane, a local of Rangapur VDC, Rautahat, Tuesday afternoon following a heavy gun battle with the cadres of Jwala Singh faction of JTMM in Santapur VDC, Rautahat.

Neupane had been abducted by the armed outfit involved in number of killings and abduction related crimes.

In the gun battle that ensued after the cadres of JTMM-J opened fired at the police squad that had reached the place in the course of search operation to secure the release of abducted person, Neupane and three policemen sustained bullet injuries.

Neupane is undergoing treatment at Gaur hospital and his condition is said to be stable.

The police also confiscated three motorcycles from the abductors.

Chief of the United Nations Mission in Nepal (UNMIN) Ian Martin returned Kathmandu Wednesday morning from Norway.

Martin had gone to the Norwegian capital Oslo a week ago to take part in an international conference that was held there.

With Martin’s return, work on second phase verification of Maoist combatants that had been stalled for some time is also expected to gain pace.

Meanwhile, construction work on the 29 residential quarters for the Maoist combatants with the first division cantonment based in Chulachuli of Ilam has also finished, reports cited Deputy Commander Nanda Kishor Pun as saying.

Maoist combatants have started to move into the newly constructed quarters, each of which is meant for accommodating 15 soldiers.

Prime Minister Girija Prasad Koirala has said that the November 22 elections of Constituent Assembly will usher in a new era.

Speaking at the parliament on Wednesday, PM Koirala said that the CA will be like a new revolution for the country and added that it will adjust the remnants of old system.

PM Koirala said that actual development process would start only after the election to constituent assembly and asked the leaders to remain ready for massive transformation in socio-economic and political scenario in near future.

He said peaceful revolution in the country would start after the polls and added the leaders should work in such a manner that Nepali people should no more have to come to streets (to fight for democracy). “This should be the final struggle,” he said.

Giving example of Mahatma Gandhi, who had sought support even from the British government for India ‘s independence movement, PM Koirala said he believes all sides would cooperate in peaceful transformation of the country.

Meanwhile, he also asked the leaders not to have too much expectation from the forthcoming budget.

The government, on Wednesday, unveiled its annual ‘policies and programmes’ laying emphasis on the upcoming constituent assembly polls, improvement in the security situation and reconstruction of infrastructure destroyed during the armed conflict.

Addressing the parliament session, Prime Minister Girija Prasad Koirala urged all sides to work together in holding the CA election in a peaceful manner. He further said the political change in the country would not be consolidated unless there is economic and social reform.

In his brief speech, the ailing Prime Minister also expressed confidence that the CA election would lead the nation to peace and democracy.

Senior minister Ram Chandra Poudel, who holds the Peace and Reconstruction portfolio, presented the government’s policies and programmes on behalf of the Prime Minister.

The policy document states that efforts will be made in “significantly improving the security situation” and create proper climate for free and fair election. Vowing to check the ongoing crime and violence, it also seeks negotiated settlement of all the problems, pledging talks with all the agitating groups.

Poudel said the government would empower and mobilise the Nepal Police and Armed Police Force throughout the country, especially in Terai, to control the violence in an effort to create conducive environment for the polls.

Special law would be enforced to stop all kinds of disturbances in highways, he stated.

The government has said the United Nations and other independent national and international agencies will be invited for the monitoring of the November 22 polls.

Likewise, a commission will be formed to work out the structure of the federal system.

The government has also announced to implement the three-year interim plan focusing on peace building, reconstruction of the infrastructure and economic programmes. The concept of ‘special economic zone’ will come into force in the upcoming fiscal year and there are plans to distribute land to the landless people, increase the access of rural people to development facilities and economic activities.

The government also plans to run the local bodies with political consensus.

The policy document, which is largely based on the past agreements between the Maoists and the seven parties, also aims to facilitate in ‘democratisation’ of the Nepal Army and make it national in character. Rehabilitation and integration of the People’s Liberation Army are also in the government’s priority list.

As announced earlier by the ruling 8-party alliance, the government will start process to nationalise the state properties used by King Gyanendra and set up a trust to manage the properties of late King Birendra and his family.

To achieve the targeted economic growth, the interim government will carry on with the policy to prioritise the agricultural sector, involvement of the private sector and promotion tourism and foreign employment.

Government would also bring an integrated programme for economic and social transformation of the Nepali society and implement the scientific land reform programme. Initiatives would be taken to establish an industrial security force, it stated.

Protection and promotion of local dialects, culture, diversification of tourism sector, establishment of more national airports and one international airport, operation of the Nepal Airlines under Public Private Partnership are some of the other programmes that government announced for the new fiscal year.

Rehabilitation of the ex-Kamaiyas, distribution of land to landless, involving community in education sector, increasing school enrollment, expanding the programmes for technical education, developing university as research centers and establishment of an agriculture university are also in the government’s priority list.

The government would also initiate restructuring of the health services, providing free health services to the poor and strengthening the capacity of the health posts in remote areas.

The government would bring out a special programme to train people in rural areas on income generation skills. Multilateral investments would be invited for hydropower generation and more villages would be electrified. New schemes will be started in irrigation and private sector would be encouraged for physical infrastructure development.

The policies also say that five district headquarters, not connected by roads till today, will be connected by road networks in the new fiscal year and more east-west and north south roads would be developed.

The government has also vowed to complete the Melamchi water project in time.

Every district headquarters will have at least two public telephone lines as part of the government effort to expand the communication services to remote areas.

The public service delivery system would be improved. Similarly, labour agreement would be signed with the countries where Nepalis have been working to ensure their social security.

The policies state that the Commission for Investigation of Abuse of Authority (CIAA) and Office of the Attorney General would be empowered. National Human Rights Commission (NHRC) would be given more powers for protection of human rights. The physical infrastructure of the courts would be improved and salary of the government employees would be increased.

Nepal Police, Armed Police Force and National Investigation Department would be equipped with modern technologies. Democratisation of Nepali Army and merger of qualified Maoist combatants into it would start, it further stated. The security personnel would also be trained for human rights protection.

Aiming to appease the bureaucracy, the government has also announced to raise the salary of government employees with the start of new fiscal year.

The government has also said its foreign relations will be guided by the nonalignment policy while giving high importance to the ties with the two immediate neighbours, India and China. Similarly, government has also stressed on respectful repatriation of the Bhutanese refugees but has said it will allow resettling in third countries to those who could not be repatriated or those who are willing to go to third countries.