Nepal government has announced that the budget session of the parliament will begin from the 5th of July. The decision follows Prime Minister Madhav Kumar Nepal's meeting with the President Dr. Ram Baran Yadav earlier today. Addressing a press conference in Kathmandu today, Speaker Subhash Nemwang announced the date of convening the budget session and expressed hope that the political parties would resolve the current political deadlock at the earliest to ensure smooth functioning of the parliament and passage of the budget. <br/>AIR Kathmandu Correspondent reports that the decision to call the budget session comes at a time when the main opposition Unified CPN (Maoist) has threatened to prevent the government from passing the budget unless the May 28 agreement among the three major parties is implemented. Text of the voice cast for world news:<br/>The date of summoning of the budget session was deferred twice due to lack of consensus among the political parties. Speaker Subhash Nemwang had held meetings with Prime Minister Madhav Nepal and top leaders of the Nepali Congress, CPN (UML) and the Maoists, urging them to come to a consensus on the three point agreement of May 28 so that the budget session could be convened well on time since lawmakers need time for a debate on the budget in the house. <br/>After much delay, the government has now decided to convene the budget session on 5th July, – ten days before the end of the current financial year to avoid a severe financial crisis. The last two annual budgets were passed without any pre-budget discussions owing to lack of consensus among the political parties. The same scenario will most likely repeat this year if there is no consensus among the major political parties before July 5 on the three-point agreement that led to the extension of the term of the parliament for another one year from May 28th. <br/>