Industrialists to stage joint street protest against banks on February 17

KATHMANDU, Feb 12: As many as nine federations and 38 associations of businesspersons, traders and industrialists have announced a joint protest against banks on February 17. Naresh Katuwal, coordinator of the Struggle Committee, said that on February 17th, nine federations and 38 unions or umbrella organizations of industrialists announced that they would hold a large-scale joint street protest against banks.

Businessmen have said that they are forced to protest against the high interest rates of banks. Katuwal, the coordinator of the Joint Main Struggle Committee, said that he is going to announce a street movement against the excesses of banks and syndicates of industrialists.

The committee said that the government was reluctant to address the demands raised by the industrialists for a long time, so they were forced to put forth their demands through a street protest.

Katuwal said that the government did not listen to the demands of industrialists, so they were forced to hit the street. Katuwal mentioned that nine federations and 38 associations were forced to hold a joint street protest because neither the government and political parties nor the party leaders paid heed to the demands raised by the industrialists. He accused the government of not addressing any of the demands of the businessmen when they were facing the latest COVID-19 pandemic.

He said that the end of syndicates in industry and trade, with access to all industrialists, has been announced as a further movement against the excesses of banks.

He also requested all debtors related to industrialists, businessmen from all over the country to participate in the movement. He made it clear that the end of the bullies shown by the banks and against the syndicate of certain industrialists came out as one. He said the street protest would be peaceful.

He said, "Because the government did not listen to the demands of industrialists, we have been forced to go to the streets again. Earlier, the Federation of Nepal National Business conducted a street protest alone. But now we have announced that nine business federations and 38 business associations will jointly organize a large-scale street movement. For industrialists there is the government, political parties or party leaders but none was responsible.”

He said that if the government does not address the demands of the businessmen even after February 17, they will hold more protest programs. He said that after February 17, in the first phase, all the businessmen will stop banking transactions.

The joint movement has been supported by the Nepal National Traders’ Federation (NNTF), Federation of Nepalese National Transport Entrepreneurs (FNNTE), Federation Of Truck Transport Entrepreneurs Nepal (FTTEN), Federation of Grill and Steel Fabricator's Association Nepal (FGFSN), Nepal Cloth Merchant Tailoring Association (NCMTA), Hotel Association Nepal (HAN), Federation of Mobile Traders, and Central Federation of Public Transport Nepal. It is said that 38 associations affiliated to the federations will participate in the movement.