Industrialists Discuss Issues Related to Monetary Policy with Finance Minister

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Industrialists Discuss Issues Related to Monetary Policy with Finance Minister

July 26: The industrialists of Sunsari-Morang Industrial Corridor met with Finance Minister Janardan Sharma recently to discuss about the monetary policy. The industrialists urged Finance Minister Sharma to introduce the monetary policy focusing on reviving the industries that have been  affected by Covid-19. A delegation led by Morang Trade Association’s President Prakash Mundada also handed over a 21-point recommendation to the Finance Minister.

The industrialists have requested the government to waive interest on loans, extend the loan repayment deadline, maintain the current bank's spread rate at a maximum of 3.5 percent, and limit credit rating of public limited companies to Rs 500 million and Rs 200 million for private companies.

Similarly, they also demanded that the monetary policy should simplify refinancing for industrialists and entrepreneurs. Likewise, domestic industrial establishments that have incurred losses due to lockdown should receive help for the next three years, states one of their demands.

Similarly, they demanded the government to waive the service charges and renewal fees charged by the banks during the lockdown period.

Their demand also includes renewal of loans at low interest rates with special concessions for the tourism, transport, hotel/resort, poultry, and other sectors that have been severely affected by the pandemic.

The delegation that visited the finance minister included trade union president Mundada, senior vice president Navin Rijal, former presidents Pawan Kumar Sarda and Mahesh Jaju.

Meanwhile, a team of the Morang Trade Association has called on Energy Minister Pampha Bhusal to resolve the issue of the power crisis. The electricity supply in Sunsari-Morang Industrial Corridor has been disturbed recently.

A team led by President Mundada met Energy Minister Bhusal and Energy Secretary Devendra Karki and drew their attention to the problems faced by the industries in the Morang-Sunsari Industrial Corridor.



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