Kathmandu, July 24
Private sector has expressed dissatisfaction over the
Monetary Policy. President of the Federation of Nepalese Chambers of Commerce
and Industry Bhawani Rana said that the Monetary Policy had not addressed most
of the demand of the business community. "We have hoped that the central
bank will take some innovative steps in addressing the liquidity crisis but the
topic is not addressed properly," she said.
However, the private sector demand to reduce service charge
has been included in the policy, and the spread rate has also been addressed
partially.
Vice-President of Nepal Chamber of Commerce Kamlesh Kumar
Agrawal also said that the liquidity crisis and interest rate issues were not
properly addressed by the policy. "It has not encouraged the private
sector. We have recommended to brought down the spread rate to 3.5 per cent but
the NRB has set it at 4.4 per cent," he said.
However, Vice-President of the Federation of Nepalese
Cottage and Small Industries Mohan Katuwal said that the new Monetary Policy
would increase the access of small entrepreneurs to finance. "It will help
in entrepreneurship development. But there are not clear provisions about
them," he said.
Published in The Rising Nepal daily on 25 July 2019.
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