Nepal Chamber of Commerce urges Finance Minister to take proactive steps to save now trouble-oriented Nepalese economy

Nepal Chamber of Commerce has issued an open letter addressing the Finance Ministry and newly appointed Finance Minister Hon. Bishnu Paudel with a number of recommendations that the chamber believes would help to keep the economy afloat amid the challenging times.

The chamber has urged the minister to reduce the bank rate and base rate so that the overall interest rate could be brought down to a single digit. The chamber has also urged to facilitate reduced premiums which would be added to the base rate like in earlier days. likewise, the chamber has also urged the concerned institutions to reduce the spread rate to 3.5%.

In addition, the chamber has urged the government to increase the ceiling for Indian tourists to carry the Indian currency to IRs 2.50 lakh from the existing IRS 25000 and to facilitate the exchange facility of IRS 500 and IRS 2000. The chamber has also urged the government to remove the bottlenecks in the import and export business of various goods and services and to regulate the illegal businesses around Nepal India border area thus by regulating the porous border points.