MP Jhakri Accuses Government of Intimidating Private Sector by Arresting Bank CEO

Kathmandu. CPN (UML) MP Ram Kumari Jhakri has accused the government of intimidating the private sector by arresting Nepal Investment Mega Bank Chief Executive Officer (CEO) Jyoti Prakash Pandey without cause. She made such an accusation while speaking at a National Assembly meeting on Monday. She condemned the arrest of the bank's CEO, accusing him without understanding the prevailing law and the spirit of the banking system regarding rescheduled assets and liquidations, stating it was against the spirit of the law. She stated that arresting the bank leadership, which mobilizes depositors' funds, based solely on the question of whose property it is, when it has already come under the control of the Nepal Telecommunications Authority, is illegal. She objected to the government's actions of terrifying the private sector in the name of good governance and effective service delivery. Speaking at the meeting, Jhakri said, 'A few days ago, the police arrested the CEO of Investment Mega Bank. The accusation is that the CEO had to say whose rescheduled asset had gone into liquidation. However, without understanding what the bank and the prevailing law say, arresting the CEO who disburses loans to the public and depositors, and who protects them, and accusing them of needing to know whose property it is and whose priority it is, is condemnable. The government is terrifying the private sector and preventing them from working in the name of good governance and effective service delivery. The days of ruling by terror will eventually pass. Therefore, the government should pay attention to this and keep the prevailing law in mind.' MP Jhakri has also strictly warned the government to take steps only after considering the spirit of banking and the prevailing law.