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Kathmandu, Nepal, April 18, 2022: The Confederation of Nepalese Industries (CNI) has suggested the government to increase tax and interest rates on loans for imports instead of banning imports to manage the current pressure on foreign exchange reserves.
A delegation of the CNI made the suggestion during by meeting with Finance Minister Janardan Sharma at latter’s office on Monday.
During the meeting, CNI president Vishnu Kumar Agrawal suggested to issue gold-based bonds by offering an additional 2 percent interest rate on remittance deposits and bring a package to attract the non-resident Nepalese to open dollar accounts in Nepal.
During the meeting, industrialist Anuj Agrawal presented a working paper on the current economic situation of the country focusing on easing the pressure on foreign exchange reserves and addressing the problem of liquidity crunch.
Responding to the concerns of the CNI delegation, Finance Minister Sharma extends thanks making commitment to implement the rightful suggestions.
