FNCCI seeks concession in power tariff

Kathmandu, Apr 10

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has requested the government not to apply demand charge on electricity during the lockdown period.

The Nepal Electricity Authority (NEA) should provide electricity at concessional rates for the six months after the industries resume operation, the business body demanded in its recommendations for the economic rehabilitation submitted to Minister for Finance Dr. Yuba Raj Khatiwada on Friday.

It requested the government to automatically include the COVID-19 infection in health insurance policy. As the new disease is not included in health insurance policy, insured are not entitled for any treatment or facility from the insurance companies if they are infected with coronavirus.

Likewise, the FNCCI asked the government to introduce a provision for providing refinancing facility to the companies and businesses of tourism, export, manufacturing and agriculture sectors at the rate of 2 per cent interest in order to manage salary and wages for the staff and workers for one year. It said that such loan should be paid in installments over the period of two years.

“Other small, medium and large scale enterprises should have the facility of refinancing for the six months’ salary of staff and workers at the rate of 2 per cent and which should be paid in installments in one year,” reads the statement.

Similarly, the FNCCI asked to apply the provision of 10 per cent discount in interest for the monthly and tri-monthly installments of the term loan to working capital loan and TR loan as well.

A delegation led by FNCCI president Bhawani Rana had submitted the recommendation letter to the Finance Minister. It has drawn the attention of the FM on the plight of the industries and businesses in the wake of the coronavirus pandemic.

“The companies will face an immense challenge for the management of cash flow after the end of the lockdown and opening of the business,” it said.

It has also recommended providing facility for the enterprises to reduce the capacity or shut down the business by providing minimum money to the staff and workers if anyone desires to do so and asked to curtail the collective bargaining in the company or firms for one year.

Meanwhile, FNCCI president Rana has called for patience and safety on the part of business people and workers during the COVID-19 crisis.

Publishing a statement on the occasion of Chamber and Industry Day 2076 on Friday, she appreciated the government efforts to control the pandemic.

Published in The Rising Nepal daily on 11 April 2020.