Usury ordinance expires, replacement bill ‘may proceed’

Owing to obstruction by opposition parties including UML and delay in presenting a replacement bill in the House, the ordinance expired on Wednesday.

The ruling parties have decided to introduce a bill to rein in loan sharking after the ordinance issued to protect the victims expired on Wednesday. The legislation failed to be replaced by a bill owing to parliamentary obstruction by opposition parties including the CPN-UML.