Maoist leader Netra Bikram Chand 'Biplav' (centre) formally announces the launch of Communist Party of Nepal Maoist at a press conference in Kathmandu on Monday. (NN/Narayan Maharjan)
"We are announcing a new party, which will be called the CPN Maoist, by organizing a press meet on Monday," said Sudarshan Mangol, a leader of the splinter faction. "The new party's policies and programs will also be published."
Biplav and his supporters left Kathmandu a few days ago, immediately after declaring separation from their mother party the CPN-M, which is chaired by Mohan Baidya.
According to leaders close to Biplav, he would not start armed conflict but would form a semi-underground structure of the new party.
The Baidya Maoist itself is known as the extreme left of Nepal and within this party's structure, Biplav represented the most extreme left of Nepal stressing on armed conflict.
"We will not talk about resorting to armed conflict right now, but we are aware about all methods of defense against our enemies," Mangol said. "We will announce programs that will create pressure against the Constituent Assembly and the government."