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Kanchanpur: It is concerning to hear about the protests of savers in Kanchanpur regarding the arbitrary charging of interest rates by cooperatives and the collection of loans. The gathering of savers from all over the district and their demands for canceling microfinance institutions, waiving collective loans, providing free loans to farmers, creating a system of work and prices based on ability, and developing a socialist economy show the depth of their frustration and the need for government intervention.
The high number of suicides due to non-payment of loans is alarming and emphasizes the urgent need for the government to take action. The savers' threat to surround the ministry if a decision is not made by February 28 further highlights the gravity of the situation.
It is important for the government to address the concerns of the savers and ensure that cooperatives are not charging arbitrary interest rates and engaging in unethical practices. The government must also take measures to support those who have been affected by non-payment of loans and prevent further loss of life.
