Finance Ministry invites MFI victims struggle committee for talks

KATHMANDU, MARCH 14: The Finance Ministry has invited the agitating microfinance institution victims struggle committee for a dialogue. The Ministry at the directive of Finance Minister Barshaman Pun yesterday asked the representatives of the struggle committee to sit for talks at the Finance Ministry on coming Friday.

A committee formed under the leadership of the Joint-Secretary and Chief of the Financial Sector Management and Cooperation Coordination Division of the Finance Ministry, Narayan Prasad Risal, invited the representatives of the struggle committee for the talks, according to Finance Minister Pun’s Secretariat. Joint-Secretary of the Home Ministry, Narayan Prasad Bhattarai, Under-Secretary of the Law Ministry, Jhaindra Guragain, and a representative of Nepal Rastra Bank are in the talks committee.

Finance Minister Pun asked the talks committee to hold a discussion with the struggle committee and submit a report with measures to address their demands. The Ministry had earlier directed the operators of microfinance institutions not to use any force upon borrowers until a resolution to the problem is found.

It had already urged the bodies concerned to carry out investigations against microfinance institutions carrying out activities against existing laws policies and directives issued by Nepal Rastra Bank and to bring them within the ambit of the law.