Private sector asks for a 200-billion-relief package « Khabarhub
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Private sector asks for a 200-billion-relief package


06 May 2020  

Time taken to read : 2 Minute


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KATHMANDU: Private sector entrepreneurs have demanded a relief package of Rs 200 billion to rescue the coronavirus pandemic-struck private sector.

The senior Vice President of Federation of Nepalese Chamber of Commerce and Industry, Shekhar Golchha stated that the sector needs 5 percent of the economy.

Nepal’s economy is of 3,700 billion rupees. If the relief package is to be as per the demand of the private sector the package should be worth Rs 200 billion.

The shut down and strikes, blockade, load-shedding and earthquake all have been paralyzing the economy now and then.

Though Nepali economy managed to recover from all such hazards of the past, they are badly affected by coronaviurs this time.

Golchha believes that this pandemic is going to paralyze the economy much longer. “We won’t be able to revive from COVID-19 instantly, tourism won’t revive for at least two years,” Golchha said, adding, “The adverse impact will be stretched up to agriculture, poultry and livestock industry.”

As the pandemic is sure to impact on remittance and as nearly 500 thousand migrant labors are likely to return because of it Golchha opines that the government should look at it with different perspective.

“Revival of economy and self-capital formation is of prime importance,” he added.

He further said that amendment in the labor act, customs management, promotion of the industry contributing to import, review of the prevalent tax rates and some relaxation in the provisions related with money laundering deserve review from the government.

Publish Date : 06 May 2020 21:41 PM

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