CNI, NRB teams hold talks

Himalayan News Service

Kathmandu, April 8:

A delegation led by Binod B Chaudhary, president of Confederation of Nepalese Industry (CNI), held a discussion on monetary, finance and investment policies with a team of Nepal

Rastra Bank (NRB), led by Bijay Nath Bhattarai, governor of NRB yesterday.

The meeting focuses on making necessary changes in existing finance policies for economic growth sustainable in the country.

Discussions were also held on making adjustments in policies for attracting foreign

investment, taking necessary steps to make Nepali capital market strong, promoting entrepreneurs and venture capital and improving Insolvency Act.

The CNI also forwarded suggestions to make the Nepali financial sector competent in the global arena, following Nepal’s accession to the World Trade Organisation (WTO).

Full convertibility of Indian currency has underscored the need for the same for Nepali currency too. NRB should set a milestone and create a road map for the purpose, delegates urged.

The two teams also talked about measures to be taken to support sick industries. Though NRB has been providing loans at lower interest rates to sick industries, but they have not been sufficient to help the current scenario. NRB should introduce special programmes for uplifting such industries, they said.