KATHMANDU, Dec 2: Private sector has expressed its dissatisfaction with the banks for their reluctance to provide the small enterprises with the benefits that have been provisioned by the monetary policy.
The newly elected central committee members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in a meeting with the Finance Minister Bishnu Prasad Paudel on Wednesday urged the government to fully implement the measures unveiled in the monetary policy. “To help the small enterprises in their recovery plan, there is a need to enforce targeted special stimulus packages,” a FNCCI press statement quoted FNCCI President Shekhar Golchha as saying.
FNCCI urges govt to extend loan payment period for SMEs
According to the FNCCI, the umbrella organization has also stepped up its efforts to prepare a ‘vision document’ with support of the international organizations. The document is set to pinpoint the short-term, medium-term and long-term goals for the country. “It will incorporate the successful models of various countries,” said Golchha.
FNCCI said it will prepare an investigative report on the impacts of COVID to businesses and industries and will come up with recommendations for the economic recovery of the country. The federation said although the budget and monetary policy have tried to address the recommendations forwarded by the private sector the relief measures have hardly been implemented at the local level.
The FNCCI also urged the government to incorporate private sector’s suggestions while giving full shape to the Revenue Board.
In response, Finance Minister Paudel said that the government is fully committed to join hands with the private sector to implement all the provisions put forth by the government policy and programs.
