The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has worried that the bi-annual review of the monetary policy of the current fiscal year could affect the economic activity that has grasped momentum, struggling with the COVID-19 pandemic.
Although conducting a study on concessional loans 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 in the bi-annual review of the monetary policy.
Releasing a viewpoint of FNCCI today, it said chances remain of crises remain high for businesspersons and financial institutions despite knowing the fact that deposits collection on the banks and financial institutions could not increase amid the interest rate in the deposit.
The FNCCI has drawn the 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.
