Nepal parliament approves budget, financial crisis averted
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South Asia

Nepal parliament approves budget, financial crisis averted

Last Updated: Tuesday, November 24, 2009, 21:41
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Tags: Nepalbudgetcrisis
Kathmandu: Nepal's parliament on Tuesday passed the country's budget after the Maoists allowed the House to function in a bid to avert a financial crisis in the country.

The CPN-Maoist lifted their blockade of the Parliament to allow the passage of the country's budget last week, but threatened they would intensify their agitation after its endorsement.

The budget for the fiscal year 2009-10 was passed unanimously in the the 601-Constituent Assembly, which functions as the Parliament, The Himalayan Times online said.

Even though the Maoists suspended the blockade of Parliament for three-days, only two lawmakers from UCPN-Maoists attended the House.

Nepalese lawmakers yesterday took up an emergency consideration of the budget, which has been hanging due to the UCPN-Maoists not allowing the House to transact business.

The House is conducting business after a five-month long disruption by the Maoists who are demanding restoration of "civilian supremacy" and to rectification of the President Ram Baran Yadav's move to reinstate former army chief.

The government was facing financial crisis as the budget could not be endorsed due to the Maoists' disruption.

PTI

First Published: Tuesday, November 24, 2009, 21:41

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