Nepal Govt Reaches 9-Point Agreement with Meter Byaj Victims

Nepal’s government has reached a 9-point agreement with the victims of meter byaj, a form of usury, following a 9-day protest. The agreement was signed by the government’s negotiation team, led by Secretary Pushkar Sapkota, and the victims’ team, led by Avadhesh Kushwaha.

According to the agreement, the government will declare meter byaj an economic crime and work towards its complete eradication. The government will also introduce a special bill to control meter byaj within three months, which will include provisions for a separate tribunal to hear cases, return of property to victims, and guaranteed compensation.

Key Provisions of the Agreement

The agreement includes several key provisions, including the requirement for verification of the source of funds and bank transactions at the ward office level. It also includes provisions for strict action against those who use criminal proceeds or engage in corruption to lend money at exorbitant interest rates.

The new law will consider several activities as crimes, including creating fake documents, adding interest to the principal amount, not allowing borrowers to repay loans, charging excessive interest, threatening or physically and mentally exploiting borrowers, forcing them to sign blank checks or documents, and seizing their property.

The agreement also includes provisions for forensic testing of documents, investigation of the source of property, and money laundering. The government will also establish a high-level coordination committee, led by the Secretary of the Prime Minister’s Office, to address the grievances of victims.

At the district level, a facilitation committee will be formed, led by the Assistant Chief District Officer, to resolve all complaints within six months. The committee will be monitored by a team led by the Chief District Officer.

The government has also agreed to provide economic assistance and relief packages to victims in the annual budget to prevent them from falling into the cycle of meter byaj again. Following the agreement, the victims have suspended all their protest programs.