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Business Community Demands Slash in Interest Rate

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Business Community Demands Slash in Interest Rate
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February 1: The industrialists and traders in Biratnagar have asked the government to immediately reduce the high interest rate charged by the banks and financial institutions (BFIs) to the borrowers.

They argued that the interest rate should be around seven percent for the production-based industries and up to nine percent for the trading firms, according to a news report published by Rastriya Samachar Samiti (RSS).

The business community of eastern Nepal drew the attention of the government to that end at a programme jointly organised by the Industry Association Morang and the Trade Association Morang on Thursday, January 31.

Stressing the need for slashing the interest rate, they also argued that the central bank should realise the ground reality that no bank was running on loss.

According to RSS, the industrialists and businesspersons said that industries and businesses should flourish to reduce the trade deficit, strengthen the economy and create more job opportunities.

Industrialists Bhim Ghimire, Pawan Kumar Sharada, Sushen Pyakurel, Moti Dugad among others said that the interest rates of banks should be less in order to increase domestic investment and lure foreign investment.

 

 

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