April 14: The Chamber of Industry Morang has expressed concern that the country's economy can head towards crisis if the regulatory bodies fail to coordinate with each other. The chamber also warned that the overall economic indicators were pointing towards an imminent crisis.

Suyash Pyakurel, chairman of the chamber, said that the liquidity crisis in the financial sector since a long time, rising interest rates, the Ukraine crisis, rising prices in international markets and the internal situation in the country are all leading the overall economy towards a crisis. Stating that there is no effective coordination among the regulatory bodies when it comes to management of liquidity, foreign exchange reserves and facilitation of import and export, he emphasized on the need to be aware of the ongoing situation.

Issuing a statement, the Chamber of Industry Morang demanded the government to find a possible solution to the crisis by removing the misunderstanding between the intergovernmental bodies. The chamber also stated that it is ready to provide assistance from the private sector to bring the crisis-oriented economy back on track.