Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Banks and financial institutions have started pressurizing vehicle owners to pay installments as the public transport, which has been closed for almost six months due to COVID-19, has reopened.
However, transport entrepreneurs said that it was difficult to pay the installment and interest as they had no business in the past six months and that they need to invest millions rupee in repairing vehicles which had been parked for six months.
“The government has resumed public transportation services just recently and we are doing businesses gradually. However, banks are pressurizing us to clear due payments immediately which is not possible,” informed Saroj Sitaula, general secretary of the Federation of Nepalese National Transport Entrepreneurs.
Saraula also said that transport entrepreneurs are not in the position to operate vehicles with only 50 percent of the capacity. “It is discriminatory that the government has allowed flight operations with full occupancy while has barred public transport to carry passengers beyond 50 percent of the seat capacity,” added Sitaula.
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