Nepal fails to elect new PM for a third time

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Kathmandu, Aug 3: Nepal"s parliament failed to elect a new prime minister for the third time on Monday, Aug 2.

In the third run-off election, Maoist chief Prachanda and Nepali Congress leader Ram Chandra Paudel, failed to win enough votes in the 599-member parliament.

Nepal is facing a fourth round of voting to elect the new PM after the resigning of former PM Madhav Kumar in Jun 2010.

Nepal abolished its 239 year old monarchy in May 2008 and became a republic under a peace deal that brought the former Maoist rebels into the mainstream. But political instability has delayed the drafting of the new constitution and hit South Asia"s poorest economy hard.

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