Govt forms committee to nationalise King’s property

The government has formed a committee led by Home Minister Krishna Prasad Sitaula to nationalise the property owned by King Gyanendra.

A meeting of the Council of Ministers Monday evening formed the committee comprising Minister for Law, Justice and Parliamentary Affairs, Minister for Forest and Soil Conservation, Minister for Physical Planning and Works and Minister for Tourism and Civil Aviation as members.

According to communication minister and government spokeserson Krishna Bahadur Mahara, the committee has been given 15 days to complete the process of nationalising the lands and palaces owned by King Gyanendra as well as the properties of late King Birendra and his family that have been transferred to him.

The committee has also been mandated to set up a trust to manage the properties of late King Birendra.

Though there is no credible information about the King’s properties, the parliamentary natural resources committee had a few months earlier revealed that he owns at least 65,000 ropanies of land and palaces in different parts of the country.

King Gyanendra, a former businessman, is also believed to have stakes worth billions of rupees in some of the biggest business ventures including the five-star Soaltee Hotel and Sipradi Trading Pvt Ltd. nepalnews.com mk Aug 21 07