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King Gyanendra's business interests clash with new role

While Nepal's new monarch struggles to find overall acceptability, analysts opine that King Gyanendra's business interests are in direct conflict with his new role.

The 54-year-old monarch has stakes in the country's largest-selling cigarette factory, a five-star hotel, a vibrant trading company and a tea garden in eastern Nepal, among others.

Now, as king of the Himalayan kingdom, his income from various business interests are exempt from taxes, a media report said.

"His business interests and engagements are no more in conformity with the role of a monarch," an unnamed Tribhuvan University professor was quoted as saying by Kathmandu Post.

"So it would be in the best interests of the country and his image to renounce his involvement in all businesses," he said.

An unnamed industrialist said: "It will be an unusually awkward situation if the king continues to compete with the public in economic activities. It will not be a level-playing field in terms of influence. We want to respect the king, not compete with him."

Bipin Aryal, a 20-year-old university student, who participated in Monday's protests demanding an investigation into Friday's palace killing, said: "We don't know much about our new monarch. So he should concentrate on building confidence with his people and try to emulate his brother's (King Birendra) image."

The daily said non-involvement in business activities and commitments to multi-party democracy were 'hallmarks' of late King Birendra.

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