Govt and loan sharking victims ink five-point deal

Published On: April 2, 2023 08:30 AM NPT By: Republica  | @RepublicaNepal

Loan-sharking victims annul all their protests after the govt stepping up to solve the problem

KATHMANDU, April 2: The usury victims on Saturday signed a five-point agreement with the government and called off their protests.

The two sides have consented to solve the problems of loan sharking victims by forming a commission. The taskforce has been mandated to study various dimensions of exploitations that the money lenders have been imposing on the poor people and to recommend the government with the necessary measures, reads the agreement draft.

The commission to be formed will have its units in all districts across the country. The commission will be headed by a former justice or the commissioner of the government bodies, while it will include the Inspector General of Police of Nepal Police and a representative of the Office of Attorney General as members.

Likewise, a coordination committee led by the chief district officer will be maintained at each of the districts to address the complaints of the usury victims. The struggle committee is set to exert pressure on the government to expedite the process of amending the existing laws related to the illegitimate transactions. In an effort to respond to the demands of the victims of illegal money lending, the government has decided to amend the Criminal Code to criminalize the act of usury.   

The usury victims have long been complaining to the government about the exploitations by the local money lenders. The government, under pressure after hundreds of the victims had walked all the way from the Terai-based districts to protest in the capital, has moved forward to solving the problems of the victims of loan sharking. The victims had warned the government to stage protests in Kathmandu until their demands would be met.

The victims of loan sharks have been seeking the government’s intervention to cancel Tamsuk (an informal legal document used by loan sharking agents to exploit the poor and illiterate people), return the money overcharged by the loan sharks and take action against them and investigate the illegally seized assets by the loan sharks.

After several days of protests, Prime Minister Pushpa Kamal Dahal called on the usury victims for a meeting at his official residence in Baluwatar. Dahal said the government was serious about addressing their problems and had assured them of ensuring justice. 

Last year too, the government had formed a taskforce to contain loan-sharking. However, it failed to solve the problems of the victims. 

Leave A Comment