The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has been worried that the bi-annual review of the monetary policy of current fiscal year could affect the economic activities that have grasped a momentum, struggling with the COVID-19 pandemic.
Although conducting a study on concessional loan in the productive sector would help assist in industrialization, the FNCCI has stated that trade, business and investment would be affected as most of the recommendations of the private sector were not addressed. Releasing a viewpoint of FNCCI today, it said chances of crises remain high for businesspersons and financial institutions despite knowing the fact that deposits collection in banks and financial institutions could not increase amid interest rate increased in the deposit.
The FNCCI has drawn attention of the central bank towards adverse impacts on production, price hike, revenue collection and employment generation as the review was focused on imports reduction.
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