To mark the end of the 240-year-old monarchy, Premier G P Koirala will hoist the national flag during a grand function on Sunday at the Narayanhiti palace, which has been vacated by the ousted King Gyanendra.The deposed King left the palace on Wednesday honouring the decision taken by the Maoists-dominated Constituent Assembly to abolish monarchy and declare the country a republic. He has moved to Nagarjuna hill resort after handing over valuables like crown and scepter to the Government.The exit of the former King is being celebrated by observing a grand function on Sunday. After hoisting of the national flag by Prime Minister Koirala, a tea reception will be held at the palace which is now under Government control, a Home Ministry official said.All members of the Constituent Assembly, senior government officials, politicians, diplomats, journalists and other distinguished people are invited to attend the ceremony.The Government has already made a decision to convert the palace into a museum. Meanwhile, Nepal Maoist supremo Prachanda, who is poised to lead the next government, on Friday underlined his desire to follow a policy of “equidistance” in relationship with giant neighbours India and China.The top Maoist leader also expressed his eagerness to visit the village of the great revolutionary leader Mao Zedong in China for greater inspiration.“Equidistance means not siding with one country against another. My exact meaning of equidistance is to have good relations with both the neighbours,” he said in an interview to the China state-run China Daily.