KATHMANDU: The Nepal Chamber of Commerce (NCC) has presented 43 recommendations to Prime Minister KP Sharma Oli to address various economic challenges. The NCC raised concerns during their Monday meeting on the effect of recent measures by Nepal Rastra Bank on the flow of credit to the private sector and put forth a number of solutions.
The NCC pushed for a more flexible monetary policy, such as a permanent single-digit interest rate and a 15 percent credit expansion objective to maintain a 6% economic growth rate. They suggested doing away with share mortgage loan limits, loosening restrictions on real estate lending, and suspending the current working capital loan conditions. Furthermore, the NCC argued for decreased customs fees, the elimination of the bond system for imports, and limited involvement by the Department of Revenue Investigation.
The NCC proposed programs to reduce fines, interest, and costs as well as reassessment choices for taxpayers embroiled in disputes or investigations in order to enhance the tax environment. Their suggestions are intended to encourage expansion and a more positive economic environment.
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