Contribution of Small and Cottage Industries Vital for Economy: NRB Governor

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Contribution of Small and Cottage Industries Vital for Economy: NRB Governor

June 22: Nepal Rastra Bank’s (NRB) Governor Maha Prasad Adhikari stated that small and cottage industries have made significant contribution to the national economy, the state-owned national news agency RSS reported.
 During a virtual interaction with the officials of the Federation of Nepali Cottage and Industries on Monday, Governor Adhikari said, "There are a lot of small and mid-scale industries which contribute much to the country's economy."

According to RSS, Governor Adhikari said that NRB has kept this sector in priority list in its policy, and also asserted that the monetary policy of the current fiscal year was intended to bring historic change.    
On the occasion, Chairman of the Federation Shyam Giri demanded the Governor to exempt the interest of loan during the lockdown period. He further said the refinancing work procedure should be re-written in case of small industries.    
Former Chairpersons of the Federation, Suresh Pradhan and Lata Pyakurel and senior Vice Chairperson Umesh Prasad Singh, among others urged the NRB to pay heed to the demands of the small-scale and cottage industries.       

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