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ShareKATHMANDU: Ignoring warnings of possible bankruptcy, Nepal's cash-strapped government has decided to continue with its arms buying from China and Israel, spending at least an additional $20 million. The government recently paid cash worth about $15 million to the Israeli government for ammunition for M16 rifles. Now it has paid another $10 million for Chinese-made rifles.
The new consignment of nearly 25,000 rifles is to reach Kathmandu. The new arms and ammunition come after the defence ministry last year shelled out at least $800,000 for 7.62 mm rifle ammunition and 18,000 grenades manufactured in China. Nepal has been looking at markets abroad to buy arms and ammunition from February 2005, when its major military aid providers India and the US suspended lethal arms supplies to show their concern over King Gyanendra seizing absolute power with the help of the army.
The Indian arms embargo has been a major blow to cash-strapped Nepal since New Delhi's military aid, was provided at a 70 per cent subsidy and allowed Nepal credit. However, the recent purchases had to be made in cash and at substantially higher prices.
The new arms spending comes even as Nepal is racked by an unprecedented power shortage.
