POKHARA: After failing to deposit the loan installment in the wake of extended lockdown, transport entrepreneurs handed-over vehicle keys to bank officials in Pokhara, on Monday.

As many as ninety entrepreneurs associated with Prithvi Highway Bus Association handed over the keys to officials of various banks.

"We pleaded with the banks to defer our loan repayment up to six months but to no avail. Even during the lockdown, banks applied pressure on us to repay the loan installments in full which compelled us to deposit keys of the vehicles financed by banks as business has come to a standstill," said Yogendra Bahadur KC, chairperson of Prithvi Highway Bus Association.

According to KC, 30 keys were submitted to NBM Bank, 17 to Garima Development Bank, 18 to Prime Bank, 25 to Muktinath Development Bank and around 200 keys would be handed over till Wednesday.

"Initially bank officials were hesitant to receive the keys but later agreed to take them back," KC added. "We do not have any bad intentions regarding the repayment of loans. Our only request was to defer the loan repayment time upto six months but the concerned authorities failed to address our problems," he lamented.

Govinda Dhakal, Chief Executive Officer of Garima Development Bank, said, "The demand of the entrepreneurs are right and we managed to help them in whatever way possible from our side. Now, the government should address the issue."

"An estimated Rs 300 million was invested in the vehicles, keys of which were submitted to the banks," KC shared.