NCC, FNCCI to take joint initiative to reduce interest rates

KATHMANDU: An agreement has been reached between Nepal Chamber of Commerce (NCC) and Federation of Nepalese Chambers of Commerce and Industry (FNCCI) to cooperate in economic affairs. While congratulating and welcoming the newly elected President of FNCCI, Chandra Prasad Dhakal and Senior Vice President Anjan Shrestha to the Chamber Bhawan in Jamal, Kathmandu, on Wednesday, an agreement was reached to move forward with the same views on high-interest rates, bill that allows the Commission for the Investigation of Abuse of Authority (CIAA) to oversee the private sector and other issues. NCC President Rajendra Malla said the NCC and FNCCI should coordinate to strengthen the country's economy and raise the voice of the private sector. Citing the deep relationship between NCC and FNCCI since its establishment, President Malla emphasized that in the future too, both organisations of the private sector should move forward with a common view on the economic agenda. He said, "The government has given assurances on various issues related to the country's economy and the private sector, but has not implemented them." In order to draw the attention of the government, it is necessary for the leading organisations of the private sector to decide on a common opinion and move forward." Malla said that when the country's economy is going through a difficult situation, the bill related to CIAA has caused more confusion and demoralisation in the private sector. Malla said that joint efforts should be made to immediately reduce the high-interest rates in banks and financial institutions (BFIs). On the occasion, FNCCI President Dhakal also stressed the need for joint initiatives to address the financial issues. Dhakal said that the private sector should move forward unitedly to face the challenges of the existing economy. Dhakal said that efforts should be made to reduce the interest rate by changing some policy arrangements of the monetary policy. He said that the chamber and the federation should take joint initiative for this. Dhakal added, "NCC and FNCCI have the same financial issue. It is also necessary to make a single voice on matters such as the bill related to CIAA and its jurisdiction, high-interest rates. He said that the government should also take seriously the issues raised by the private sector. READ ALSO:

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