From The Nepali Press
Bank employees unite
Budhabar, 26 December
FROM ISSUE #75 (04 JAN 2002 - 10 JAN 2002) | TABLE OF CONTENTS
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Employees of the Nepal Rastra Bank and the Nepal Bank have formed a joint committee to protest against the decision to hand over management of two troubled banks, the Rashtriya Banijya Bank and Nepal Bank Ltd. on management contracts to foreign managers. They've told the deputy governor of the central bank that it was not right to hand over management of the bank to foreigners without making efforts to improve the management from the inside. In a letter to the governor, the Joint Agitation Committee (Sanyukta Sangharsha Samiti) has noted that political interference in management needs to be controlled, a good management system has to be set up, irregularities checked, and those guilty of fraud, have to be punished instead. The employees say the decision of the government to privatise the bank and to hand over management to a foreign group would increase foreign control over the national economy. If the management was handed over to a foreign group, the head of the team would be paid a very high salary and so would other members of the management team as result of which aid from the World Bank would go outside the country. Another union concern is possible cut down in staffs of the banks once the new management steps in.