Opposition slams Bhattarai over BIPPA ‘gamble’

NC, CPN-UML term agreement against Nepal’s interest.

Updated on: Oct 22, 2011, 18:07:58 IST

Hindustan Times | By Utpal Parashar, Kathmandu

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Nepal’s Maoist prime minister Baburam Bhattarai’s fears of a backlash over signing of the Bilateral Investment Promotion and Protection Agreement with India turned true on Saturday.

A day after inking the deal, Nepali Congress and Communist Party of Nepal (Unified Marxist Leninist), the two main opposition parties, stated that it would harm Nepal’s interests.

Nepal’s industry minister Anil Kumar Jha and Indian finance minister Pranab Mukherjee had signed the BIPPA in New Delhi on Friday during Bhattarai’s ongoing India visit.

Bhattarai’s predecessor and Chairman of CPN (UML) Jhalanath Khanal stated that the agreement would hurt Nepal’s sovereignty and economy and threatened to launch an agitation opposing it.

“Bhattarai’s irresponsible act without consulting other parties has affected Nepal’s nationalism,” said Khanal while addressing a function in the capital on Saturday.

Speaking at a separate programme Nepali Congress vice-president Ram Chandra Poudel blamed the Prime Minister for signing the agreement at a time when Nepal is witnessing political instability.

“Maoists themselves are the main cause of instability. How can they implement the agreement which entails compensation to Indian companies due to riots?” he questioned.

Following signing of the agreement on Friday, Bhattarai had stated that he took the risk fully knowing that there will be protests against it in Nepal.

“You can’t build a nation without taking risks…and sometimes you have to gamble,” the Republica quoted him as telling a group of Nepali editors that accompanied the PM’s delegation.

Provisions in BIPPA provides grant of compensation by the host country to investors whose investments suffer losses due to war, armed conflict, national emergency, insurrection or riots.

India had been insisting on signing the BIPPA with Nepal as several major Indian investments had suffered huge losses. The present agreement will remain in force for 10 years.

Another much-awaited deal, the Double Taxation Avoidance Agreement is likely to be signed during Finance Minister Pranab Mukherjee’s proposed visit to Nepal next month.

ABOUT THE AUTHOR
Utpal Parashar
A seasoned senior journalist, I have nearly three decades of experience across print, digital, and online platforms, covering political transitions, insurgencies, environmental issues, and development stories in India and Nepal. I am skilled in breaking news, leading editorial teams and launch of newspaper editions. I am adept at leveraging digital trends and social media to expand global reach, with a strong ethical foundation and a reputation for impactful journalism. An alumnus of Asian College of Journalism, I joined Hindustan Times in New Delhi as a trainee reporter in May 1997. Over the years, I have been posted in Dehradun, Kathmandu (Nepal) and Guwahati. Currently, as Senior Assistant Editor at Hindustan Times, I lead a team reporting on India’s northeastern states. My work involves in-depth analysis, and engaging multimedia storytelling across formats, including text, photo, video, and interactive content. I am skilled in producing timely, shareable content, leveraging digital platforms and social media to engage global audiences. Throughout my career with the Hindustan Times, I have led diverse editorial teams, designed capacity-building activities, and supported reporters in developing strong story ideas, ethical reporting practices, digital skills, and fact-checking techniques. As Senior Assistant Editor for Northeast India, I have been responsible for guiding correspondents through complex political, humanitarian, and community-level stories using multimedia formats. Earlier, as Foreign Correspondent in Nepal, I produced extensive reporting during Nepal’s democratic transition and the 2015 earthquake and its aftermath.Read More

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