Nepal King has invested in 17 big firms: Report

Gyanendra and his family members have major shares in 17 big industrial and business enterprises across Nepal, says a Govt report.

Published on: Aug 28, 2006, 17:39:00 IST

None | By Anonymous, Kathmandu

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King Gyanendra and his family members have major shares in 17 big industrial and business enterprises across Nepal, according to a government report.

The investments include in five-star hotels Soaltee Crown Plaza and Hotel de l' Annapurna, Himalayan Tea Garden, Sipradi Trading, Gorkha Travels, Surya Tobacco Company, Himal International Energy Power and Himal International Power Corp, a cabinet minister said on Monday, citing details of the report prepared by Ministry of Commerce, Industries and Supplies.

The royal family also holds majority shares in Laxmi Rosin and Turpentine Pvt Ltd, Laxmi Kattha Industries, Nebico Biscuit Industries and Laxmi Banaspati Ghee Industries, according to the report presented by the Ministry to Parliamentary Natural Resources Committee.

The shares of Surya Tobacco Co and Hotel Soaltee are also owned by Indian companies.

Prabhakar Shumsher Rana, associated with the Soaltee Hotel Ltd, is the main person who looks after the business affairs of the King and Royal family members, reliable sources said.

The Public Accounts Committee of the House of Representatives have recently disclosed that the King owns some 1,750 hectares of land across Nepal.

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