CNI welcomes steps initiated by NRB to prop up the economy hit and weakened by COVID-19 pandemic

The Confederation of Nepalese Industries (CNI) has said the steps initiated by Nepal Rastra Bank to prop up the economy hit and weakened by COVID-19 pandemic were worth welcoming.

In a press release on Monday, CNI stated that specific changes made in the monetary policy would help sustain the liquidity in the economy. "Nepal's central bank has taken into account the various issues CNI had been raising at different times. We are of the belief that this would certainly help sustain the confidence of the private sector," the CNI stated.

Hailing the government's decision to make arrangements for relief to the economically poor families and the daily wage-earners, CNI said it was a positive step. It has expressed the confidence that the government would also bring the medium term and long-term relief as well besides the present short-term relief. CNI said the government has announced the relief at a time when there was big expectation with the government to protect Nepal's economic system.