NCC, CNI to collaborate for economic stability

KATHMANDU: Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI) have decided to cooperate and collaborate for economic stability. The two representative organisations of private sector will cooperate for economic stability and development through effective coordination of budget and monetary policy. The leadership of both organisations agreed to move forward with cooperation while attending a programme organised to congratulate newly elected office bearers and the executive committee of CNI. NCC President Rajendra Malla said, 'We need to cooperate to boost the country's economy and meet the demands of the private sector.' The investment environment has not been created due to the high interest rate, Malla said and added the morale of the private sector as a whole has also decreased. He suggested that government agencies concerned should be united in order to maintain economic stability and control interest rates through monetary policy. Meanwhile, NCC, CNI and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have planned to submit joint suggestions for the monetary policy of the fiscal year 2023/24 year on July 7. NCC and CNI have also reached an understanding regarding continuous cooperation in the coming year to improve the financial sector by controlling interest rates. On the occasion, CNI President Rajesh Kumar Agrawal opined that there should be cooperation between the private sector for the effective implementation of monetary policy. Mentioning that economic development and prosperity is the desire of the private sector, Agrawal said that an environment should be created for regular discussions with the government to meet the private sector's demands. The two organisations also agreed to cooperate in the campaign to discourage transactions on credit.