Private Sector Demands Resumption of Industries Affected by Lockdown

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Private Sector Demands Resumption of Industries Affected by Lockdown

May 7: Stakeholders of private sector have demanded resumption of industries severely affected by lockdown amid coronavirus outbreak. At an interaction with the theme of 'policies, programmes and budget for the fiscal year, 2077/78' organised by Nepali Congress on Wednesday at party office in Sanepa, they demanded that the government seek alternatives to lockdown and reduce interests on loan.    
On the occasion, senior vice president of the Federation of Nepalese Chambers of Commerce and Industry Shekhar Golchha said that the country's economy would go two years backward due to lockdown.

"Private sector should be improved to recover country's economy. For that, the government should take steps like facility on property record, concession on electricity, bringing down bank loans to five percent and value added tax rate to 10 percent and 20 percent exemption on income and corporate taxes."    
Saying that approximately 5,000 construction projects were operating before lockdown, president of the Federation of Contractors Association Nepal  (FCAN) Rabi Singh said they have incurred losses of around Rs 35 billion.    
President of Hotel Association Nepal (HAN) Sirjana Rana demanded that time to repay loans should be extended, loan interests capitalised and loans re-tabulated.    
President of Nepal Association of Tour and Travel Agents Achyut Guragain demanded that an arrangement should be made to provide loans at two percent interest rate to manage salaries to tourism employees.    
On the occasion, NC president Sher Bahadur Deuba pledged that NC would take up demands of private sector with the Parliament and the government and create pressure on the government to address them.  -- RSS  

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