NCC urges its district chapters to defer protest until coming elections

Kathmandu, Nov 10: The Nepal Chamber of Commerce (NCC) has urged its district and municipal chapters to postpone its ongoing agitation against the interest rate increased by banks and financial institutions, till November 20 elections. 

Its district and municipality level chapters have been asked to put off the agitation till the elections, according to a statement today. 

The NCC has launched an agitation against the increased interest rate by banks and financial institutions and against the short-term loan guidelines of the Nepal Rastra Bank. 

The statement reads, "The country is in the midst of the elections to the House of Representatives and the Province Assembly. The NCC will take initiatives to resolve problems through discussions with the government while continuing the protest peacefully after the polls. The district and municipality-level chamber of commerce are urged to postpone all the protest programmes."

The NCC President Rajendra Malla reasoned that continuing agitation would cause more problems amidst the elections although industrialists have faced a setback due to an extreme increase in the interest rate by banks and financial institutions. 

"Even though there are many options to decrease the increased interest rate, the government has not listened to the demands of industrialists. There is no alternative to launch a protest soon after the elections", he shared. (RSS)