Kathmandu, July 8:

The Parliamentary Finance Committee (PFC) has asked the government to immediately work to nationalise the king’s property. The committee submitted its report to the Parliament today.

The report, related with the Principle and Priority of the Appropriation Bill for allocating budget of the fiscal year 2007/08, says: “The act of nationalising the king’s property should be implemented immediately.”

The PFC has also asked the government to improve law and order situation to conduct a free and fair constituent assembly election and underscored the need to prioritise tasks related with rehabilitation, reconstruction and reintegration.

It said that the law and order situation should be improved also in order to create an environment favourable for national and international investment. It has suggested the government implement the NRN (Non Resident Nepalese) Act immediately and amend the law that bans Nepalis from investing in foreign lands.

The government should adopt a policy of attracting national and international investment in hydropower sector, the report says.

The Committee has also suggested the government make arrangements for the release of the budget within a month after the passage of the Appropriation Bill.

The report said that the Appropriation Bill should be based on the Directive Principles, National Policy and Responsibility enshrined in the Interim Constitution; Common Minimum Programme of the eight-party alliance and the objectives of next three-year plan.

The committee has suggested the government to work for strengthening the border security force to control revenue leakage. It has also suggested the government levy tax on house-owners who rent out rooms.

It has asked the government to take action against officials responsible for issuing bad debt and declare persons black-listed by banks as financial criminals.