KATHMANDU: Senior Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, said although Dhaubadi Iron Company Ltd (DICL) has the capacity to commercially produce iron from iron ore, the work of producing iron has not progressed for a long time and urged the private sector to take charge of it.
Addressing the Seventh Nawalpur Festival 2079 which started in Nawalpur district on Wednesday as the chief guest, Dhakal, who is also the acting president of FNCCI, said, "For a long time, commercial production could not take place at DICL. Now let us take over the responsibility of its operation without delay. We are ready to operate it. We will bring it into operation by collaborating with local businesspersons and by bringing in foreign investment."
He mentioned that the government has brought programmes for the operation of this factory in budget and programmes, but it has not been implemented yet. He claimed that private sector could bring the company into operation immediately.
Talking about the economy, Dhakal said some indicators of the economy were becoming positive and expressed confidence that the economy will improve soon.
He stated that Nawalpur district is important for agriculture, tourism and industrial activities as it is bordering with neighbouring India and expressed that he was ready to cooperate with local businesspersons for the development and improvement of this area.
He said there has been a lack of investable capital in the banking sector for a long time. The interest rate of deposits, which was around 2 to 3% has now reached 8 to 10%. This has increased the cost of the bank and increased the loan interest. As FNCCI has been continuously lobbying regulatory bodies to improve, some issues have been addressed, Dhakal said.
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Published Date: February 16, 2023, 12:00 am
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