An interaction and discussion program on the current state of the Nepalese automobile sector was organized by NADA Automobiles Association of Nepal (NADA) in Chitwan recently. NADA, the governing body of automobile dealers in Nepal, held a two-day program in Sauraha to discuss the organization’s future course of action and the current state of the country’s automotive sector with various stakeholders.

During the interaction program, NADA’s former presidents Rohini Thapalia, Sunil Khaitan, Saurabh Jyoti, Anjan Shrestha and Shambhu Prasad Dahal, discussed the rationale and necessity of the protest movement started by NADA. Similarly, the institutional heads of all seven provinces who were present in the program expressed their determination to continue the protest movement until the demands are addressed by the government.

The businessmen have called for the cancellation of current capital loan guidance, modification of monetary policy, interest rate control, rescheduling of loans for the revival of the automobile business, special concessions on interest rates, removal of 50 percent cap on auto loan financing, and the adjustment in the bank’s interest rate.

The provincial associations under NADA across the country have demonstrated against unfavourable banking and government policies lately. These associations have protested under the nationwide movement announced by NADA.