Over 5,000 Loan Shark Victims' Issues Resolved by Government Commission

The government-formed Commission dedicated to investigating and resolving usury-related cases has successfully addressed 5,155 complaints out of the 28,000 received, according to Uttamraj Subedi, a Commission member and Additional Inspector General of Police. Since its formation, the Commission has facilitated the return of 218 bigha 10 kattha 7 dhur (793) to victims from usurious lenders through reconciliation.

The Commission's study revealed a written transaction of over Rs 5.857 billion between victims and loan sharks. The lenders claimed an outstanding recovery of over Rs 1.62 billion from victims. Notably, a consensus settlement between both parties resolved transactions amounting to over Rs 1.72 billion, as reported by the Commission.

Applications from victims were collected from April 30 to May 28, with 21,552 complaints lodged from eight districts in Madhesh Province and 1,862 from Nawalparashi Paschim. Commission Chairperson Gauri Bahadur Karki confirmed that the Commission submitted its report to the Prime Minister last Tuesday. According to Karki, 39 districts, including 29 with registered and resolved cases, reported no usury problems.

The government established a three-member high-powered Commission to address loan-sharking issues, and the Parliament passed and enforced the corresponding law. The Commission's efforts demonstrate a commitment to protecting vulnerable individuals from usurious practices.