Nepal’s Ministry of Finance has formed a negotiation team to resume talks with the Microfinance Victims’ Struggle Committee today. The previous round of talks on Thursday was reportedly positive and solution-oriented.
Finance Minister Dr. Swarnim Wagle had formed the committee to negotiate with the protesting microfinance victims. On Thursday, he made a ministerial decision to form a negotiation team led by Joint Secretary at the Ministry of Finance, Mahesh Acharya.
The committee members include Joint Secretary at the Ministry of Law, Binod Kumar Bhattarai, Joint Secretary at the Ministry of Home Affairs, Suresh Panthi, and Executive Director at Nepal Rastra Bank, Ramu Paudel. Under Secretary at the Ministry of Finance, Bolaraj Acharya, is the member-secretary of the negotiation team.
The microfinance victims have been expressing dissatisfaction and making various demands, including stopping the auction of mortgaged properties and legal action, restructuring microfinance institutions, ending the collective loan system, and consolidating and restructuring loans taken by an individual from multiple microfinance institutions. They have also been demanding a reduction in interest rates.
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