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Nepal’s central bank monetary policy motivates handicraft entrepreneurs

KATHMANDU: Nepal Handicraft Entrepreneur Association Kathmandu welcomed the monetary policy unveiled by the Nepal Rastra Bank (NRB) recently.
NRB had other day introduced the monetary policy focusing the increment of investment, production, expand employment that was positive aspect of the policy.
“Handicraft entrepreneurs are happy with this policy as NRB has included the incentives programmes to ensure the access to finance for the small and medium entrepreneurs,” read the press statement.
The policy has adopted the ambitious target to achieve 8.5 per cent economic growth and maintain inflation at 6 per cent and to ensure adequate foreign exchange reserves to cover the prospective import of goods and services at least for seven months but it was good, it said.
Reduction of spread rate to 4.4 per cent this year from 4.5 per cent last year will provide relief for the creditors to run their business, it said.
It said that it was necessary to manage special banking facilities for promoting export trade of the country as the rampant trade deficit was becoming challenge for the national economy.
“High cost of production of the exportable products is reducing the competitive of Nepali products with the international market,” it said.

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