Kathmandu [Nepal], July 17 – Nepal’s government and representatives of victims of illegal high-interest moneylending are preparing to sign a formal agreement on Friday, marking a potential breakthrough after months of protests demanding stronger action against exploitative lenders.
The agreement is expected to formalize an oral understanding reached earlier this week during talks in Simara, Bara district. Final negotiations are underway at the office of the Prime Minister and Council of Ministers in Singha Durbar before the document is signed.
Government officials and victim representatives held another round of discussions on Thursday laying the groundwork for the final deal. Friday’s meeting is aimed at translating those understandings into a written agreement.
The government negotiating team is led by Pushkar Sapkota, secretary at the Office of the Prime Minister and Council of Ministers. Other members include Kali Prasad Parajuli, joint secretary at the Ministry of Home Affairs and Yogendra Prasad Dulal director general of the Department of Land Management.
The victims’ delegation is coordinated by Awadhesh Kushwaha of Nawalparasi (East). The team also includes Manoj Paswan from Siraha, Rijan Ranamagar from Gorkha, Laxmi Ghimire from Bhojpur, Kiran Pariyar from Bardaghat West and Nirgraj Jaisi from Kailali.
The negotiations follow sustained demonstrations by victims of loan sharks who have accused lenders of charging exorbitant interest rates and using coercive methods to seize land and other assets. Protesters have been demanding stronger legal protection effective enforcement of existing laws and faster resolution of outstanding cases.
The outcome of the talks is expected to determine the next phase of the government’s response to the long-running dispute.
