Kathmandu. Umesh Lal Shrestha, the candidate for the senior vice president of the Federation of Nepal Chamber of Commerce and Industry, has said that the problem has arisen now because the Nepal Rastra Bank is unable to regulate banks and financial institutions effectively.

"The bank's credit should flow on a priority basis, especially in areas that contribute to the economy," he said while addressing the fifth annual general meeting of the Federation of Nepalese Chamber of Commerce and Industry of Koshi Province, "but due to the lack of credit during the Corona period, the bank gave loans to industrialists at cheap interest rates without a plan, but at that time, Hachuwa There is a problem now due to the fact that the loan taken is not being utilized properly.'

He also said that due to the lack of proper utilization of the investment made by the bank after Corona, the industrial factories in the country have collapsed. He said that now there is a problem due to economic recession in the country and there should be an in-depth study on the matter.

"The inaction of the Nepal Rastra Bank and the short-sightedness of the government have now made the industrialists suffer," he said. Should the government conduct a study on this matter or not?'

He argued that the government had to start a protest when it did not address the legitimate demands of the businessmen. "When we submitted many memorandums regarding interest rates and other issues, we also protested accordingly, but the voice of the federation was not heard," he said, "Recently, due to the decline in the reputation of the federation, the government and other concerned agencies are ignoring us."