BARA, DECEMBER 20
Industrialists and entrepreneurs have given continuity to the agitation against Nepal Rastra Bank's current working capital directives-2022 in Bara.
Agitating entrepreneurs and businessmen collected signatures against the central bank's current working capital directives at Dumarwan of Bara.
Speaking at the rally held at Dumarwan, Chairman of Jitpursimara sub-metropolis chapter of Federation of Nepalese Chamber of Commerce and Industry Mohan Sharma said the central bank's directives had hit small entrepreneurs hard.
"With the new directives in place, interest rates on lending have increased. Entrepreneurs are forced to pay all their income as interest to the banks.
This has put businesses on the verge of collapse," Sharma stated. General Secretary Prakash Giri of Jitpursimara sub-metropolis chapter of FNCCI said Rastra Bank's policy had brought businessmen to the street.
Pandemic, financial crisis, and soaring interest rates have adversely affected businesses and industries. Small businessmen and entrepreneurs may have to abandon their businesses if bank interest rates do not drop, said entrepreneur Pradip Chaudhary.
A version of this article appears in the print on December 21, 2022, of The Himalayan Times.
