Kathmandu, April 15 : The Nepal Chamber of Commerce (NCC) has urged the Nepal Rastra Bank (NRB) to take immediate measures to reduce the adverse impacts of the COVID-19 pandemic on the national economy.
The NCC stated this in a memorandum submitted to the NRB Governor Maha Prasad Adhikari on Tuesday (April 14). It also urged the government to address the demands of the private sector saying it is the main source of revenues of the state.
The NCC called for constituting a high-level study task force including the representatives of the private sector for carrying out a study on the impact of coronavirus pandemic on the economy, for forming a high-powered mechanism to restore the economy back to its previous state after assessing the impact of the pandemic and making provisions for the banks and financial institutions to issue loans to all types of businesses and traders for long period.
Likewise, it urged the NRB to make provisions for providing the refinancing facilities to all types of micro, small, medium and big enterprises and other businesses as well on the basis of the status of the impact of coronavirus on these sectors. It said this refinancing should be 10 per cent in addition to the current loan. The NCC also called for a three per cent spread rate of banks, making the CRR flexible and increasing the flow of investment capital. RSS
