INSUBCONTINENT EXCLUSIVE:
BARA, DECEMBER 20Industrialists and entrepreneurs have given continuity to the
agitation against Nepal Rastra Bank's current working capital directives-2022 in Bara.
Protest against ordinance on
pardoning political prisoners
Landless squatters stage protest against govt
move
Agitating entrepreneurs and businessmen
collected signatures against the central bank's current working capital directives at Dumarwan of Bara.
Speaking at the
rally held at Dumarwan, Chairman of Jitpursimara sub-metropolis chapter of Federation of Nepalese Chamber of Commerce and Industry Mohan
Sharma said the central bank's directives had hit small entrepreneurs hard."With the new directives in place, interest rates on lending have
Entrepreneurs are forced to pay all their income as interest to the banks.This has put businesses on the verge of collapse," Sharma stated
General Secretary Prakash Giri of Jitpursimara sub-metropolis chapter of FNCCI said Rastra Bank's policy had brought businessmen to the
street.Pandemic, financial crisis, and soaring interest rates have adversely affected businesses and industries
Small businessmen and entrepreneurs may have to abandon their businesses if bank interest rates do not drop, said entrepreneur Pradip
Chaudhary.A version of this article appears in the print on December 21, 2022, of The Himalayan Times.
This article first appeared/also appeared in https://thehimalayantimes.com