Suggestions to take advantage of ‘single digit’ interest rates

KATHMANDU: Chandra Prasad Dhakal, senior vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has suggested the Nepalese entrepreneurs to use the single digit interest rates of Nepal’s banks and financial institutions and increase investment in industrial and business activities.

Addressing the swearing-in and handover ceremony of the Birtamod Chamber of Commerce and Industry as the chief guest, he said, “I urge Nepal’s business friends that the interest rate in Nepal is now in single digits, make good use of it and increase investment in economic activities.”

“Now is the time to invest in business activities and help sustain the industry, so we can all benefit from this policy,” he said. Senior Vice President Dhakal said that the Federation of Nepalese Chambers of Commerce and Industry has lobbied with the Government of Nepal and Nepal Rastra Bank for the interest rate.

He said, “The interest rate has come to single digits after the private sector raised the voice that the interest rate of the bank has been increased to invest in Nepal and increase business activities.” “Even though I am the chairman of a commercial bank, this was a major issue for me. As an entrepreneur, I personally felt for it. This policy has become possible after our lobbying,” he recalled.

He added, “So we have the opportunity to take advantage of this opportunity and we, the representatives of the private sector, should also benefit from it. This is the time for the country’s industrialists and businessmen to really benefit.” He also said that local potentials and opportunities should be explored well.