‘Single-digit interest rate necessary to make the economy feasible’

KATHMANDU: Nepal Chamber of Commerce (NCC) President Rajendra Malla has stressed that it is necessary to maintain a single-digit interest rate in order to make the economy feasible. He mentioned that the current high interest rate has affected industry business and investment. Addressing the second general meeting of the Tulsipur Chamber of Commerce on Saturday, NCC President Malla said that a lock-up system should be implemented in the interest rate to create economic stability and business environment. He opined that borrowers were in distress and investment environment was not possible due to unstable interest rates. "The financial sector will be stable if a fixed interest rate is maintained at the initial stage in the process of taking loans for various purposes including industrial business operation, real estate, agriculture and not changed later," the NCC President viewed. President Malla stressed that the government should join hands with the private sector to improve the current state of the economy.  'Jobs have not been created yet and even agricultural products have to be imported," the NCC President lamented. He urged the district chamber to coordinate to increase agricultural production at the local level and said the district chamber can coordinate the marketing of the produced goods. READ ALSO:

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