Global Economy

Nepal’s ruling party leaders Prachanda and KP Sharma Oli close to a deal

NEW DELHI: The ruling Nepal Communist Party (NCP) may have temporarily survived the danger of a split as Prime Minister KP Sharma Oli and senior leader Prachanda are close to a deal, following frantic efforts by China to safeguard its interest in Kathmandu.

China, led by its envoy Hou Yanqi in Kathmandu, played a critical role in forging in what is being described as a temporary truce between Oli and Prachanda, ET has learnt. The Chinese mission played an active role by engaging with all stakeholders, including President Bidya Devi Bhandari.

The truce between the current PM and the former PM was reached on Saturday.

Oli and Prachanda are trying to finalise a deal on holding the party’s general convention by November/December, sources told ET from Kathmandu. Prachanda, who was earlier adamant on Oli’s resignation, has now dropped the demand after being egged by Beijing.

Prachanda, backed by senior leaders Madhav Kumar Nepal and Jhala Nath Khanal, had been demanding that Oli step down as both party chair and the PM. As many as 30 out of 44 standing committee members had also demanded Oli’s resignation.

But after Saturday’s development, Nepal and Khanal have expressed their reservations about the proposed convention and are worried about any backdoor dealing between Oli and Prachanda, Kathmandu-based sources claimed.

Nepal has reportedly threatened to expose the two top NCP leaders. The Nepal Communist Party was born following the merger between Oli’s CPN-UML and Prachanda’s Maoist Centre in May 2018.


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