Himalayan News Service

Damak, March 19:

Nepal Rastra Bank has stated that it is facing problems to construct the price index as it is not getting support from the private sector. Speaking at a one day seminar on price index, collection system and role of the private sector, the NRB-Biratnagar’s assistant manager Shyam Krishna Dahal said, “We are facing problems to find out data about inflation or deflation because entrepreneurs are hesitant to reveal the right price. Presenting a seminar paper, Dahal said to minimise the problem, the central bank is trying to convince them of safety of their revelations. Dahal paper further said the rate of price increase has been 11.4 per cent in fiscal year 2055-2056, but since then it has been below 5 per cent. The NRB estimates the rate of increase would be around 5 per cent this fiscal year.

Dahal said that the national retail price index had gone up by 6.1 per cent during the month of Paush. Last year, it was 7 per cent during the same period. The Bank was seeking advices from concerned persons including businessmen because it is preparing the fourth family budget survey, informed NRB-Biratnagar’s manager, Maha Prasad Adhikari said. He said that entrepreneurs would help the bank in its work. He added the target for the survey, that is conducted at the span of around 10 years had already been set. According to him, the survey would collect the prices of 300, 284 and 267 items in Kathmadu, hill and terai areas, respectively.