NCC to discontinue protest program till Nov 29 polls

KATHMANDU, NOVEMBER 10 : The Nepal Chamber of Commerce (NCC) has today asked to put a halt to the protest programs being organized against the increment of interest rates by Banks and Financial Institutions (BFIs). It urged its district and municipal chapters to do so till the conclusion of the November 20 parliamentary and provincial elections.

“The industrial and business communities have been hit hard by the steep increase of interest rates by the BFIs. However, we are discontinuing the protest programmes as they might vitiate the election atmosphere” states Rajendra Malla, President, NCC.

According to him, his organization, nevertheless, will continue with the programmes after the polls to pressurize the Nepal Rastra Bank (NRB)  to lower the increased interest rates.  The NCC is also demanding the NRB to bar the BFIs from imposing serving charges while floating and renewing loans.