Nepal to revamp Defence Investment Policy: Prachanda

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Bangalore, Sep 17 (UNI) The new Government in Nepal will review its present defence procurement policy to attract investment in the Defence sector, Nepal Prime Minister Pushpa Kamal Dahal Prachanda said today.

Speaking at a 'Luncheon Meeting' hosted by the Confederation of Indian Industries (CII) here, he said his government would revamp Defence procurement policy and invite foreign equity into the sector.

Announcing that the new government will not go to down size its Defence Budget, the new Prime Minister said it would identify more areas for investment from abroad. ''We are going to address the overall defence sector in Nepal'' he said.

Showering words of appreciation on the achievement in Bangalore in IT and BT sector transforming it into the knowledge capital of India, Mr Prachanda said a favourable atmosphere prevailed in his country and one can see a 'mini Bangalore in Nepal soon'' he said.

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