Senior Vice President of FNCCI Chandra Prasad Dhakal urges government to solve liquidity problem in market


15th Nov, 2021 | Tourism Mail Crew


KATHMANDU, Nov 15: Senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry Chandra Prasad Dhakal said that the liquidity problem in the banking sector should be solved immediately.

 

Speaking at the inaugural function of the 34th Annual General Assembly and Convention of Bhaktapur Chamber of Commerce and Industry on Friday, Senior Vice President Dhakal urged the Government of Nepal and Nepal Rastra Bank to take immediate steps to address the liquidity problem in the market. "Industry, which has been weakened by the Covid-19 pandemic for more than two years, is slowly recovering. But the current liquidity crisis in the banking sector has hit it even harder, he said. "

 

He said that the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have also drawn the attention of the government to solve the liquidity problem in the market. He said there was a lack of liquidity in the market as government expenditure was reduced due to delay in bringing the budget this year and inflow of remittances has also decreased.

 

Talking about the role of private sector in the economic development of the country, he said that every mechanism of the state should work in collaboration with the private sector. "It is clear that the private sector is the main engine of economic growth. The role of the private sector is even greater and more important in developing countries. It creates a large number of jobs, raises funds for investment and contributes significantly to government revenue,”he said.