3 years ago
Spokesperson and Executive Director of Nepal Rastra Bank Dr.Gunakar Bhatta said that they are preparing to bring monetary policy by focusing on refinancing management and job creation by solving the problems of the private sector affected by COVID-19.
Speaking in an interview organized by Reporters Club Nepal on Sunday, Bhatta said that the work of taking suggestions from experts in all fields has been done so far.
Stating that the pace of economic growth has slowed down due to COVID-19 and the supply chain has also been disrupted, he assured that the forthcoming monetary policy would revive the economy.
Bhatta clarified that the monetary policy will focus on the proper operation of the refinancing fund provided in the budget and economic recovery as there is high liquidity in the market due to non-flow of credit from banks.
Speaking on the occasion, Shekhar Golchha, Senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) stressed on the need for monetary policy to provide relief to all sectors as this year's monetary policy is as important as the budget.
Gyanendra Dhungana, former chairman of the Nepal Bankers' Association, said that the general public had hoped for maximum relief in this year's budget but some relief had come but the people's expectations had not been met.
Rajendra Malla, senior vice-chairman of the Nepal Chamber of Commerce, stressed on the need for the monetary policy to be brought by the NRB differently from the past as the nation is going through a difficult situation.
Stating that the issue of interest rate should be addressed in the monetary policy for the general business community, he stressed on the need for the entire sector to move forward as the nation itself is going through a difficult situation.
