Kathmandu: Maoist chief Prachanda has said that his government will nationalise Royal assets but will not touch private businesses and property.

“We will nationalise the Royal property and the property belonging to late King Birendra, Maoist chief Pushpa Kamal Dahal, alias Prachanda said.

Only the property that the king enjoys as the monarch will be nationalised but his personal property will not be touched. He will be allowed to do business, he added.

However, the property of businessmen and industrialists wont be nationalised, they will be encouraged to do business, to create new jobs, new infrastructures, he said, allaying fears of the Indian entrepreneurs in the Himalayan state.

Speaking on his party’s economic policy, Prachanda told Karan Thapar here in an interview for CNN-IBN’s Devil’s Advocate programme, that his party favours capitalism in the country.

“Our fight is against feudalism, not against capitalism,” he clarified.

In between the feudal stage and socialist stage there will be capitalist stage, he said, adding he will follow mixed economic model and encourage creation of wealth through the means of capitalism.

The 53-year-old former rebel said, he will encourage foreign investment, including those from India, saying: “we will try to create favourable environment for them to invest here.”

“When we create an environment where people can make profit then naturally Indian investors will also come,” he said, adding “we are in a transition right now and the character of our revolution is of democratic.”

Source : PTI