Chamber's statement that guidelines on working capital loans should be scrapped instead of reviewed
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Nepal Chamber of Commerce has stated that the public monetary policy for the financial year 2082/83 is positive and oriented towards financial facilitation. In a press release issued on Sunday, the Chamber expects the financial sector to be operational through economic revival and easy lending.
According to the chamber, if the credit flow to the private sector can be expanded by 12 percent, the current liquidity problem can be solved. The bank rate, which is the upper limit of the interest rate corridor, has been reduced from 6.5 percent to 6 percent and the policy rate has been reduced from 5 percent to 4.5 percent. It is believed that this will not allow liquidity management and interest rate increase in the market,'' the statement said.
The chamber has welcomed the arrangement of the monetary policy to increase the loan limit from 20 million rupees to 30 million rupees for the construction or purchase of private housing. The Chamber believes that the loan-to-value ratio can be maintained up to 80 percent for housing loans and up to 70 percent for others, which will help expand the real estate business and make the economy sustainable.
The Chamber has positively taken the measures taken for the rescheduling and restructuring of loans in the housing and real estate business and for the restoration of the construction sector. The Chamber has affirmed the provision of amending the working capital loan guidelines based on the nature and income-payment cycle of sectors such as agriculture, small and cottage industries, education, health, communication, sports and media houses.
According to the chamber, the provision of agricultural or commercial loans up to 10 lakh rupees, and the provision of loans up to 3 crore rupees under small and medium enterprises, will provide agricultural loans at cheap interest rates. personal The Chamber has welcomed the decision to increase the share mortgage loan limit from Rs 15 crore to Rs 25 crore and to facilitate policy in the existing system of blacklisting due to check bounce.
The chamber has welcomed the fact that the allowance given to Nepali citizens for visiting countries other than India has been increased from 25 hundred US dollars to 3 thousand dollars. It has suggested that the policy of providing loan without collateral up to 3 to 5 lakh rupees for young people going for foreign employment is positive and its practical implementation should be made effective.
The Chamber has said that the current capital loan guidelines should be canceled instead of being reviewed . The Chamber has suggested that the economy should be made dynamic by effective coordination between the current financial year's budget and monetary policy.
