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Kathmandu, October 16 — A faction headed by entrepreneur Birendra Bahadur Basnet, who serves as the executive chairperson of Buddha Air, has established a new political party called the Gatishil Loktantrik Party (GLP).

The gathering, led by Dinesh Prasai, a political sociology professor, was officially registered with the Election Commission on Thursday.

Although the group was headed by Basnet, he decided not to take on an official position with the intention of running in the elections. The party has implemented a policy that prevents its office holders from participating in elections, as stated by party officials.

They claimed the party has been organized so that its leaders will concentrate on administrative and policy issues.

Chairperson Prasai mentioned that the party’s rules state that any official wanting to run for a position must step down at least six months before the election.

Basnet, who has been talking about establishing a political party for the last five or six months, will join as a member without taking on any leadership role, as he plans to run in the election.

“Internal conversations had been taking place for a while, but following the declaration of elections on March 5, the planning sped up,” Prasai stated.

The gathering will include one chairperson, five general secretaries, and one treasurer. Piyush Mishra will act as a general secretary responsible for organizational matters, while the other general secretaries will concentrate on governance, business development, and fairness.

Prasai mentioned that discussions were continuing to select the remaining personnel via interviews, considering their fields of specialization.

He mentioned that the party will follow the key aspects of the current constitution, including federal democracy.