athmandu, January 2:

Employees of Nepal Bank Ltd (NBL) while speaking at the 18th central committee meeting of employees union have revealed that they are against the ‘complete privatisation’ of the bank.

According to a press statement issued by NBL-Employees Union, despite the bank having been run by foreign management experts for the past four years, no visible reforms have been seen so in the existing financial performance of the bank.

The management has failed to recover outstanding loans despite the management team having spent millions of rupees in the name of reforms, claimed the press statement.

Employees have demanded hiring of skilled manpower from within the bank.

The tussle between the management and the employees unions has been a bitter one, as the management has been mandated to bring about reforms in the bank. It has been asked to cut down non-performing assets and bad loans of the bank that has been the main reasons for the continuing losses and lack of profitability.

Employees of the bank have protested the policy of privatisation declared by Nepal Rastra Bank (NRB) and the government as NBL plays a significant role in national economic development. The government has 41 per cent shares in NBL and it should be continued in future, employees have demanded.

Even the annual general meeting of NBL has not been held for the last six years. Therefore, the AGM must be held immediately to maintain transparency in financial matters, says the statement signed by general secretary, Premal Kumar Khanal of NBL-Employees Union.