FNCCI offers suggestions to Nepal Rastra Bank to include in monetary policy

Mon, Jul 5, 2021 5:06 AM on Latest, Economy, National,

The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) has offered its suggestions to the Nepal Rastra Bank for the monetary policy to be unveiled for the coming fiscal year.

A team under the leadership of FNCCI President Shekhar Golchha submitted its suggestions to the Governor of the Nepal Rastra Bank, Maha Prasad Adhikari, for the monetary policy.

National Economic Transformation (NET) 2030 prepared by the FNCCI has been made the basis while preparing the suggestions for the coming monetary policy by the FNCCI. The FNCCI has suggested the NRB for the continuity to the policy adopted for the COVID-19 recovery as well as priority to project loans to small and medium-sized entrepreneurs and expansion of digital banking.

Golchha said, “The concept of project loan should be brought for the expansion of such enterprises and startup as such enterprises have around 22 percent share in the country’s economy.”

He shared that the FNCCI has been carrying out feasibility study about the project loan and it would be submitted to the NRB soon.

On the occasion, Governor Adhikari said that the suggestions presented by the FNCCI were realistic and relevant.

He opined, “We will carry out further study and discuss how it can be implemented.”

The FNCCI has suggested that the coming monetary policy should be focused to increase liquidity flow in the market and to maintain single digit interest.

Senior President of FNCCI, Chandra Prasad Dhakal, Vice-Presidents Dinesh Shrestha, Anjan Shrestha, Ram Chandra Sanghai, and high ranking officials of Nepal Rastra Bank were present on the occasion.