The Bank interest rate does not decrease strike in the Maithighar Road- Nepal Rastra Bank

Nov Sat 2022 01:34:57

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The Bank interest rate does not decrease strike in the Maithighar Road- Nepal Rastra Bank

Kathmandu. Executive Director of Economic Research Department of Nepal Rastra Bank Dr. Prakash Kumar Shrestha gave a swift reply to the traders saying that the interest rate will not decrease if they bring processions to Maitighar. He gave this answer on the eve of Nepal Industry and Commerce Association organizing a protest program at Maitighar Mandla on Friday.

Advising traders not to depend only on import-based business, he further added, 'as long as there is a system of earning only by importing and selling it, such ups and downs will continue to occur in the economy.'

Insisting that there is no lack of liquidity in the market, Shrestha admitted that there is a lack of investable capital. He also said that the problem of lack of liquidity will not be solved until the foreign currency reserves are increased.

Speaking at the same event, Finance Ministry's Revenue Secretary Rameshwar Dangal informed that the revenue has been affected due to the ban on imports. He also said that the revenue has been affected due to the theft of some items.

Revenue Secretary Dangal informed that in the past, revenue was collected in the form of capital gains tax in the mentioned amount through the capital market.

Speaking at the event, Nabil Bank Chairman Upendra Paudel said that the government and the banking sector are positive in solving the problems seen in the financial sector. It is necessary to solve the problem in the economic sector. In order to solve the liquidity problem, the National Bank should take the initiative to bring funds from outside.