You might want to try running the program or batch file with the runas command, it'll allow a program to be run with a different user context. The problem might be the password on the account , the password has to be stored somewhere. You might be better off making a user group that has the required permissions to run everything in the first place then associating that group to all the users.
runas is generally in [boot drive]windows/system32
You can pump in the password using redirection but it has to come from somewhere and the user context wont be setup properly yet to make it read only. You could schedule a task that runs every minute or whatever and type the password in yourself on scheduling,
cmd.exe "... \pw\password.txt" that sort of thing.
Mohito, thanks a lot for going into this amount of detail. A lot of this stuff is just below the surface of what I am familiar with. I will spend some time configuring with these options and it looks like it will help quite a lot.
Sorry about the schedule task screenshot, that was from Windows 8 and should be about the same as windows 7. I though you were running windows 7 but i see it clearly states WinXP on the first post. As you pointed out not as many options in XP, i did not try it on XP.