KATHMANDU, March 15 -- Chairman of the CPN (Unified Socialist) Madhav Kumar Nepal has accused former King Gyanendra of looting the country, asserting that the monarchy contributed nothing but self-interest.

Speaking at a press conference organized by the Socialist Front in Lalitpur on Saturday, Chairman Nepal stated that returning to a feudal system is unacceptable and that there is no alternative to the establishment of a socialist republic.

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The remarks of Chairman Nepal comes at a time when pro-royalist forces have lately stepped up their activities for the reinstatement of monarchy in the country. "Now, there is a call for change in the system. Certainly, the capitalist sys...