KATHMANDU: The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) has expressed a generally positive reaction to the new monetary policy for the current fiscal year, recently unveiled by Nepal Rastra Bank (NRB).
FNCCI President Chandra Dhakal noted that the monetary policy addressed several concerns raised by the private sector, which had been submitted to the NRB.
He emphasized that the effectiveness of the policy will depend on the specifics of the circulars issued by the central bank.
Key positive aspects highlighted include a target of 12.5% loan expansion for the fiscal year, reductions in bank and policy rates, flexibility in current capital loan management guidelines, and lax policies regarding capital fund management for banks and financial institutions.
Similarly, the Nepal Chamber of Commerce welcomed the new policy, describing it as relatively flexible. However, the Chamber pointed out that some issues were not fully addressed.
In a press statement, the Chamber praised the reduction in the bank rate from 7% to 6.5% and the policy rate from 5.5% to 5%, noting that these measures would help lower interest rates.
Additionally, the Chamber highlighted the positive provisions in the policy aimed at promoting the real estate sector.
Comment