Kathmandu. Nepal Chamber of Commerce (NCC) has submitted 35-point recommendations to Nepal Rastra Bank (NRB) Governor Dr Bishwanath Poudel.

Chamber President Kamlesh Kumar Agrawal gave 35 suggestions to help keep the economic and financial sector moving. Submitted to Poudel. Chairman Agrawal said that various policy suggestions have been presented to the Governor as the economic and financial sector should be made dynamic through effective coordination of the budget and monetary policy.

According to the Chamber, the contraction in economic activity has resulted in imbalance between demand and supply, contraction in private sector assets and liquidity in banks and financial institutions.

According to a statement issued by the Chamber, if the loan can be rescheduled for some time by mutual analysis with banks and financial institutions as per the need, considering the nature of the industry and business, it can create great confidence among the affected entrepreneurs.

According to the Chamber, entrepreneurs are fast being blacklisted for not being able to deposit cash in bank accounts due to non-payment of bank installments and interest. “More than 100,000 entrepreneurs have been blacklisted in the last three years. If the loan can be rescheduled for some time by mutual analysis with banks and financial institutions as per the need, considering the nature of the business, it can create great confidence among the affected entrepreneurs and prevent many entrepreneurs from collapsing. ’

The Chamber has also urged the government to give first priority to economic revival based on the nature and condition of the industry and business to pay past liabilities to keep the morale of the private sector high through the monetary policy of the upcoming fiscal year. Similarly, the Chamber has stressed the need for the future course of monetary policy to be fully expanded, relaxed and flexible. According to a statement issued by the Chamber, the problem of excess liquidity will be solved if the loans going to the private sector are facilitated.

According to the Chamber, the availability of current capital to entrepreneurs should be made in a simple and easy manner and the current capital loan guidelines should be scrapped. According to the Chamber, 100 percent risk burden of loans above Rs 5 million should be maintained to further speed up real estate transactions. Similarly, the chamber has stressed the need to maintain a ratio of 80-20 for real estate loan disbursement.

After the chamber’s suggestion, Governor Dr. Poudel pledged that the monetary policy for the next fiscal year would be formulated in order to make the financial sector dynamic. Dr Poudel said that rastra bank would accept the suggestions of Nepal Chamber of Commerce.