Chamber calls for refinancing to aid businesses hit by Gen Z protests
Malhotra noted that the present challenges differ from past crises like the earthquake and COVID-19 and urged authorities to prioritize this issue.
KATHMANDU: Senior Vice Chiar of the Nepal Chamber of Commerce, Deepak Malhotra, has called for refinancing arrangements to support entrepreneurs impacted by the recent Gen Z protests.
He emphasized that such refinancing is essential to help businesses recover from the current situation.
Malhotra noted that the present challenges differ from past crises like the earthquake and COVID-19 and urged authorities to prioritize this issue.
He stressed that the government should provide concessional loans for business revival and that the central bank should make credit available at the base rate.
Speaking at an event organized by the Economic Journalists’ Association in the capital, Malhotra highlighted two main concerns: capital outflow from the country and the emigration of skilled young workers.
He stated that around 1.1 million youths have gone abroad for foreign employment or student visas, reducing Nepal’s labor force, and called on the government to take immediate action to address this trend.
He added that entrepreneurs are the backbone of the national economy, and the government must prioritize measures to support them.
