Private sector halts protest against increase in bank interest

Kathmandu: The protest of the private sector has been postponed for now.

The protest was suspended after Nepal Rastra Bank Governor Mahaprasad Adhikari promised to address the problems of industrialists through the quarterly review of monetary policy.

The Federation of Nepalese Chambers of Commerce and Industry and has also decided not to do any activity related to the protest for the time being.

The Federation issued a statement and requested all provincial chapters and member organizations to postpone the protest program.

Industrialists and businessmen had been protesting in different parts of the country saying that the banks had increased the interest rates.

The General Assembly has asked to postpone the protest program for the time being as the election of members of the House of Representatives and Provincial Assembly is going to be held on November 4th.

The businessmen were protesting in Biratnagar, Dang, Butwal, Kathmandu and other major cities saying that the banks were charging high interest.