November 28: Private sector stakeholders have urged the central bank not to implement the Working Capital Loan Guidelines 2079 at once but to implement it in a phase-wise manner. The guidelines have already come into effect since the last two months.

The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) submitted a written memo to Nepal Rastra Bank (NRB) requesting it to implement the guidelines in a phase-wise manner. The central bank officials had earlier said that they would review the guidelines after the November 20 elections to the House of Representatives and provincial assemblies.

As per the new guidelines, the central bank has capped the limit on working capital loan to 20 in case of a company whose annual transaction is less than Rs 20 million. However, they can avail up to 40 percent loan under special circumstances. In case of a company whose annual transaction is over Rs 20 million, they can avail 25 percent loan.

The businessmen, however, have urged the central bank to provide 40 percent loan for a company with annual transaction of Rs 20 million and 50 percent loan for transaction above that threshold. Also, they have urged the NRB to avail term loans for up to 180 days instead of 90 days.