Kathmandu, Nepal, October 18, 2022: A delegation of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), a leading representative organization of Nepalese business and industry sectors in Nepal, has drew the attention of Nepal Rastra Bank (NRB), the central bank of Nepal, regarding the recent problems faced by the private sectors.
The FNCCI delegation led by its president Shekhar Golchha met with Acting Governor of NRB Neelam Dhungana on Monday and drew the attention of the ongoing problems that appeared in liquidity management, interest rate stability, external sector management, price stability and others that the business community has faced.
The FNCCI has urged the central bank to maintain interest rates at a single digit by slashing the hikes in premium interest rates, revising of credit-deposit (CD) ratio, increasing capital expenditure, allowing banks to utilize 50 percent of the unused government fund, facilitating private sector and banks to take external commercial borrowing and restructuring and rescheduling of bank loans taken by private sectors.
During the meeting the FNCCI delegation also urged the NRB to take special initiatives to address the problems faced by the business community including the raises in interest. According to the FNCCI president Golchha, raises in interest rates has not only increased the cost of capital and surged prices in the market but declined the government’s revenue by 20 percent.
