POKHARA: Enraged with the banks’ unilateral decision of raising the interest rate on loans, the Pokhara Chamber of Commerce and Industry (PCCI) have warned of phase-wise agitation if the banks did not decrease the same.

They have given an ultimatum of mid-February to adjust the soaring interest rate on bank loans.

The PCCI had earlier issued a press statement urging the banks to decrease the loan interest rate.

Chairperson of the PCCI Damu Adhikari warned they would be compelled to go for phase-wise agitation if the banks did not bring down the interest rate on loans. He said the soaring interest bank loans will adversely affect their businesses.

The PCCI had earlier issued a press statement urging the banks to decrease the loan interest rate. They have been demanding that the spread rate be brought down to three percent.