Kathmandu, Jun 14
The steps announced by the
central bank in the past were good, but they are not sufficient, said the
business body in its recommendations for the monetary policy for the fiscal
year 2020/21 which is submitted to the Nepal Rastra Bank (NRB) on Sunday.
Submitting the suggestions to Governor
Maha Prasad Adhikari, CNI urged him to capitalise the interest in this difficult
period, extend the loan period, simplify the process to obtain additional loan,
and restructure the credit.
It has urged the central bank to
simplify the process of Rs. 150 billion
refinancing facility recently announced by the government, and start it at the
earliest.
“The limit of the concessional
loan should be 20 per cent of the total loan obtained by the business or
industry or Rs. 200 million in amount. Likewise, no business should be barred
from getting the refinancing facility,” it said while urging for special
provisions of refinancing for the cottage, small and medium scale enterprise.
Governor Adhikari said that the
central bank had taken the suggestions positively.
Stating that the economy was at a
critical juncture due to the pandemic there were challenges to resume business
operations, he maintained that the NRB would try to soothe the private sector
industries through new and innovative programmes.
A delegation of CNI led by its
President Sathish Kumar More had submitted the suggestions to Governor
Adhikari.
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