I/II. http://nepalnews.com/archive/2011/oct/oct23/news07.php
Last Updated: Sun, 23.10.11 13:36 BIPPA will contribute to increase employment opportunities in Nepal by bringing in Indian investment: Industry Minister Industry Minister Anil Kumar Jha commented that the Bilateral Investment Promotion and Protection Agreement (BIPPA) made between Nepal and India is positive and that it will contribute to increase employment opportunities in Nepal by bringing in Indian investment. "Nepal has inked such agreement with six other countries including the United Kingdom and Finland. India has also made the BIPPA with 70 countries of the world and is prepared to sign with other 10 countries so it will not be trouble-creating for us, " he told RSS. The framework of the BIPPA signed with India is the best of its type and quite different than the one made with other countries, the Minister claimed. Minister Jha made it clear that the agreement will not be effective for the Indian investment channelised in Nepal earlier. II. http://nepalnews.com/archive/2011/oct/oct22/news04.php Last Updated: Sat, 22.10.11 14:29BIPPA against national interest: NC, UML Leaders of the major opposition parties- Nepali congress and CPN–UML - have flayed the Bilateral Investment Promotion and Protection agreement (BIPPA) signed between Nepal and India yesterday following Prime Minister Baburam Bhattarai’s meeting with his Indian counterpart Manmohan Singh in New Delhi. Speaking at a programme in Kathmandu Saturday, UML chairman Jhala Nath Khanal said the signing of the BIPPA was against national interest. He also said that his party will not accept it. “PM Bhattarai has singed BIPPA without consulting the parties. His irresponsible act has insulted other parties,” he added, ”He has thrown our nationality into Yamuna River.” Speaking at a separate programme in the capital today, NC vice president Ram Chandra Poudel also criticised the BIPPA saying that there was no meaning of signing such an agreement until there is political stability in the country. “Maoists are themselves the main cause of political instability," he said, "They call strikes, forcing government to pay compensation. How can they implement such agreement?” Poudel added. BIPPA entails commitments by the signatories to protect investment from each other and accept liability for losses caused by war, riots or any kind of unrest that are not covered by insurance companies. The agreement bars the host country from nationalising businesses from foreign countries without paying proper compensation. Similarly, the agreement allows direct foreign investment (FDI) and investment in stocks. The investors will also be able to take their profits to their home country. Earlier yesterday, PM Bhattarai told Nepali journalists in New Delhi that he was aware of possible criticism about the agreement. Talking to journalists in New Delhi he also said that he took a risk, knowingly, by signing the agreement and that the agreement was important for Nepal's economic development. -- Peace Is Doable -- You received this message because you are subscribed to the Google Groups "Green Youth Movement" group. To post to this group, send an email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/greenyouth?hl=en-GB.
