KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has drawn the attention of Nepal Rastra Bank (NRB) to the multi-dimensional factors that are affecting the economy. FNCCI has further urged the central bank to take special initiatives for liquidity management, interest rate stability and price stability as internal and external factors are affecting the economy.
A delegation led by FNCCI President Shekhar Golchha, comprising the Federation officials, Province chapter presidents and executive committee members met with high officials including NRB Governor Maha Prasad Adhikari on Tuesday and made the request.
"The private sector of Nepal is probably going through the most difficult situation so far," Golchha said. He made it clear that FNCCI has taken forward the campaign to save the economy and in this process has met with top leaders of the major political parties, the head of government and the finance minister and asked them to solve the problem.
FNCCI President Golchha urged Governor Adhikari to immediately create an environment that makes the entire private sector viable citing that there has been a decline of 60% in the important foundations of the economy such as cement, iron, real estate business, construction, and automobiles among others.
Entrepreneurs are affected by the increase in the interest on the deposit at a time when there is no other income, he said.
On the occasion, FNCCI representatives handed over 12-point suggestions to the NRB Governor.
FNCCI has been demanding to postpone the implementation of the guidelines for at least two years, and take initiative to reform the system that has been affecting the private sector.
The private sectors’ association has suggested the central bank should find a way to resolve the liquidity crisis and reduce interest rates.
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Published Date: December 14, 2022, 12:00 am
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