Kathmandu, Jan 22 (IANS): Two months after the Constituent Assembly elections in Nepal, the assembly is holding its first meeting Wednesday afternoon with the aim of drafting a new constitution for this Himalayan nation within a year.

This first meeting is being regarded as a landmark event because it has raised hopes of a new constitution which is expected to end the political turmoil in the country, Xinhua reported.

Nepal's octogenarian lawmaker Surya Bahadur Thapa is chairing the meeting until the election of the chairman and vice-chairman of the Constituent Assembly.

The meeting was delayed as the political parties were involved in several disputes including the United Communist Party of Nepal-Maoist' (UCPN-M) claim that the Constituent Assembly elections Nov 19 last year were rigged.

The first Constituent Assembly elected in 2008 abolished the 240-year-old monarchy in the country.

Political parties in the country will now have to draft a new constitution within a year to institutionalise these achievements.