Thursday, May 12 2005 16:31 Hrs (IST) - World Time -

New Delhi: Maoist insurgency has had a negative impact on business activities in Nepal, including those of Indian ventures, Government told the Lok Sabha today (May 12, 2005).

However, there were no reports of permanent closure of Indian companies in Nepal on account of Maoist violence, Minister of State for External Affairs E Ahamed said in a written reply.

He said there have been some violent attacks by Maoists in which Indian property and vehicles have suffered damage.

King Gyanendra has stated that the measures in place in Nepal since Feb 1, 2005 are temporary in nature and that he remains committed to constitutional monarchy and multi-party democracy, Ahamed said.

India has welcomed the lifting of emergency in Nepal and release of some political prisoners, he said, adding New Delhi has called for release of all political leaders in custody and the restoration of civil liberties, which would open the way for reconciliation between the two constitutional forces.