The Federation of Nepalese National Transport Entrepreneurs (FNNTE) lifted the transport strike on Tuesday morning, local newspaper The Himalayan Times reported on Tuesday.
After marathon negotiation held at the Home Ministry in Kathmandu, FNNTE declared that the government had met its 10-point demand to end the indefinite nationwide transport strike.
According to FNNTE President Dinesh Bhandary, the strike had been called off and the eight political parties have decided not to organize demonstrations and transport strikes.
Talks between the agitating transport entrepreneurs and the government officials lasted from 4:00 p.m. (1015 GMT) Monday to around 2:00 a.m. Tuesday (2015 GMT, Monday) to provide appropriate compensation to the damaged vehicles and provide security to the vehicles.
As per the agreement, an accident victim will receive 75,000 rupees (about 1,056 U.S. dollars) from the vehicle owner and in case of damage to a vehicle while the compensation for the damage will have to be paid by the people who caused the damage.
FNNTE has launched an indefinite transport strike from Sunday after over one dozen vehicles were torched by demonstrators in Lahan recently. The indefinite strike has seriously disrupted normal traffic across the country including in the Kathmandu Valley.