Kathmandu, July 6: The Confederation of Nepalese Industries (CNI) has suggested a monetary policy, which targets payment and trade balance and adopts a democratic policy for foreign loan and infrastructure development.
The policy should also help in the implementation of pro private sector policy put forward by the government, they proposed. The size of a refinancing fund should be increased to Rs 100 billion, and at least 30 percent of the fund amount should be set aside for export-based industries, they demanded.
The CNI made this suggestion in a memorandum presented to Deputy Governor of Nepal Rastra Bank, Chintamani Shiwakoti connecting to the monetary policy for the fiscal year of 2019/20. They also proposed that different dates should be set for tax and loan repayment to maintain liquidity.
