Kathmandu, July 4, 2008

Four of the seven major parties today finalised the draft of the agreement to be incorporated in the supplementary Fifth Amendment Bill designed to amend the interim constitution to address the issue of autonomy raised by the Madhes-based parties. A cabinet meeting held in the evening approved the agreement. The content of the agreement will be a part of the Article 138 (2) of the constitution. The three major parties, CPNMaoist, Nepali Congress and CPN-UML, along with the Nepal Sadbhavana Party-Anandi Devi, signed the agreement. The three fringe parties — CP-Mainali-led United Left Front, Janamorcha Nepal and Nepal Workers’ and Peasants’ Party — boycotted the meeting. The fringe parties argued that there was no need to mention in the bill the names of signatories to the agreements reached with the government before the Constituent Assembly election. According to the one-point agreement reached today, all the agreements reached between the agitating fronts and groups and the government shall be tabled in the CA for its final decision. The deal will be incorporated into Article 138 (2) of the constitution. “The commission shall take as a basis all agreements and understanding reached between the government and Joint Democratic Madhesi Front, Nepalese Federation of Indigenous Nationalities and Indigenous Nationalities Joint Struggle Committee Nepal, Federal Republican National Front Nepal and other groups, while recommending its report to the Constituent Assembly,” the deal states.

NEA wants hurdles cleared for hydel project

Kathmandu, July 4, 2008

Managing Director of Nepal Electricity Authority Arjun Kumar Karkitoday urged residents of Dolkha district not to create any hurdle to the construction of Upper Tamakoshi project. In everything went fine, the 309-megawatt hydro-electricity project will be the first project in Nepal to be constructed with 100 per cent local investment. The Employees’ Provident Fund has agreed to invest Rs 12 billion for the project. “We are very smart at proposing new models. But I request you all not to make the project a guinea pig as no other model is going to serve the interest of the locals better than this,” he said, while addressing an interaction on the financing model of the project. The interaction was organised by the local Upper Tamakoshi Concern Group here today. The NEA has proposed that it would gather 51 per cent of the total estimated cost — Rs 30 billion — through different financial institutions. The rest of the fund would be gathered by selling shares — 10 per cent to the locals of Dolkha, 20 to civil servants, 10 to the public, nine per cent to the NEA employees and three per cent to the employees of the financial institution, which will invest on behalf of the NEA.