KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has welcomed the monetary policy saying that its suggestions have been included in the policy unveiled by Nepal Rastra Bank (NRB) on Friday.

The umbrella organization of Nepal’s private sector said it welcomes the extension of the deadline to pay the interest and installment of the loan taken from the banks.

With new provision introduced in the Monetary Policy issued by NRB, the COVID-19 pandemic struck industries have got the expanded period up to the end of the running fiscal year 2020/21 whereas the small debtors have got six months as extra time to pay for the loan.

Stating that the refinancing arrangement will help the entrepreneurs, the federation said that increasing the Credit Resource Mobilization ratio will help increase liquidity.

The federation has also expressed confidence that the provision of additional credit of up to 20 percent in the current capital loan limit will help the private sector.