KATHMANDU, Nov 8: Nepal's Maoist rebel leader on Wednesday publicly declared an end to a decade of armed struggle and renounced violence following a landmark peace deal with the Himalayan nation's main ruling parties.

“In the last few years our experiences have shown that we could not achieve our goals through armed revolution,” rebel leader Prachanda told a packed news conference.

“So we have chosen the path of negotiation and formed an alliance with the political parties to meet the aspirations of the people longing for peace.”Nepal's ruling parties and Maoist rebels clinched a historic peace deal in the early hours of Wednesday that included placing arms under UN supervision and reviewing the role of the 238-year-old monarchy.

The civil war between the Maoists and central government has claimed at least 12,500 lives since 1996.

“We have come up with a new vision to establish a new Nepal and in some ways we have already achieved some parts of it. But greater challenges lie ahead,” a confident and happy Prachanda told journalists, held at the Yak and Yeti hotel near the royal palace.

He also said the rebels, who control large swathes of the countryside, would be holding “victory rallies all over the country” over the next few days.

The rebel's second-in-command predicted that the new deal marked the end of the monarchy. King Gyanendra was forced to end 14 months of direct rule after mass protests in April organised by the parties in concert with the rebels.

“This is the beginning of the end of monarchy. We are confident of establishing a democratic republic now,” Baburam Bhatterai said.

Prachanda also said “there is no room for any form of monarchy in Nepal.”Some political parties however have called for a ceremonial role for the monarchy that has been a traditional symbol of unity in the majority Hindu nation.—AFP