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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
<p> </p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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July 26: The Federation of Nepalese Chamber of Commerce and Industry (FNCCI), the umbrella organization of the private sector, has expressed its official view regarding the monetary policy introduced by Nepal Rastra Bank (NRB) for the current fiscal year. The federation said that the monetary policy will create more pressure on the liquidity crisis prevailing in the market as there is no concrete way to reduce the lack of capital. FNCCI concluded that the monetary policy failed impress the private sector.
The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.
A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.
The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors.
According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.
The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.”
FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.
The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps.
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation expressed that the monetary policy of the current fiscal year released by Nepal Rastra Bank on Friday focused on reducing expenses by controlling credit rather than increasing the source of foreign exchange earnings. The FNCCI, on the other hand, appreciated the provisions such as reducing the interest rate of loans flowing to the productive sector compared to other businesses, giving continuity to the re-financing facilities for businesses heavily affected by Covid-19, and rescheduling loans for small entrepreneurs.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
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<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">A statement issued by the federation on Monday mentions that the monetary policy did not include concrete measures for import substitution and promotion of export. As per the statement, due to the strict policy, the investment of the private sector will also shrink and it will be challenging to achieve the economic growth rate of 8 percent as mentioned in the budget.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The federation stated that even after increasing the interest rate, the deposits did not increase. The federation says that even approved loans cannot be obtained due to the lack of investable funds, which will affect the construction of projects related to hydropower, tourism and other sectors. </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">According to the federation, such a strict policy is only going to make loans expensive and it will not be easy to keep the inflation within the desired limit only through monetary instruments. In addition, FNCCI believes that the amendment made in the limit to avail loans through mortgage of shares will help the small investors.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement read, “The federation's demand that the interest rate should be different for the loans flowing in the productive and commercial sectors has been addressed, which is much appreciated.” </span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">FNCCI has also urged the central bank to maintain refinancing in exports and production, while linking the refinancing with productivity.</span></span></span></span></p>
<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Arial","sans-serif"">The statement issued by the federation identified the inclusion of green economy and digital payment as positive steps. </span></span></span></span></p>
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'username' => 'neeraj.roy@newbusinessage.com',
'name' => null,
'email' => 'neeraj.roy@newbusinessage.com',
'address' => null,
'gender' => null,
'access' => '1',
'phone' => null,
'access_type' => null,
'activated' => true,
'sortorder' => null,
'published' => null,
'created' => '2020-07-19 16:40:23',
'last_login' => '2024-08-13 13:55:06',
'ip' => '172.69.41.137'
),
'ArticleComment' => array(),
'ArticleFeature' => array(),
'ArticleHasAuthor' => array(),
'ArticleHasTag' => array(),
'ArticleView' => array(
(int) 0 => array(
'article_id' => '15686',
'hit' => '735'
)
),
'Slider' => array()
)
$current_user = null
$logged_in = false
$xml = false
simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
