Private sector displeased with NRB’s monetary policy review

KATHMANDU: The private sector in the country has expressed dissatisfaction over the first quarterly review of the monetary policy.

The Central Bank, Nepal Rastra Bank (NRB), last Friday made public the first quarterly review of the monetary policy for the current fiscal year 2021/22.

President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Shekhar Golchha and President of the Nepal Chamber of Commerce (NCC) Rajendra Malla are of the view that the monetary policy failed to address the plight of the industrial and business communities.

FNCCI President Golchha said the government had not been able to come up with adequate relief programs for the private sector that has contributed to make the national economy fundamentally strong despite facing huge challenges.

“The private sector hoped that the monetary review would enable the us to invest in the face of risks but the review did not announce any package for industries hit by COVID-19 pandemic. The private sector is disappointed as the review failed to address the sector’s demands,” Golchha said.

Meanwhile, NCC President Malla said NRB could not introduce a policy for liquidity management in the recent review.