Former Nepal Chamber of Commerce President Rajendra Malla Comments on Monetary Policy

Kathmandu. Former President of the Nepal Chamber of Commerce, Rajendra Malla, has stated that the monetary policy for the fiscal year 2083/84 has made positive efforts to maintain financial stability while keeping economic activities dynamic.

Responding to the monetary policy, Malla mentioned that the policy includes some positive provisions that will enhance market confidence and further strengthen the financial system. However, he stated that more concrete provisions are needed to reduce the cost of doing business as expected by the private sector, lower loan interest and overall financial costs, and ensure effective credit flow to the productive sector.

He pointed out the need to further expand the concessional loan program for startups and innovative businesses, and stated that the KYC system should be implemented in a one-stop manner by accelerating digitalization. He believes this will reduce unnecessary paperwork and procedural delays in credit flow, creating a conducive environment for the private sector.

Outgoing President Malla mentioned that the success of the monetary policy depends on its effective implementation, and stated that effective coordination and collaboration among the government, Nepal Rastra Bank, and the private sector are indispensable. He expressed confidence that investment, production, employment generation, and economic growth can be accelerated to the desired pace through policy stability, an investment-friendly environment, and enhancement of private sector morale.