Himal Press 
KATHMANDU: Federation of the Nepalese Chambers of Commerce and Industry (FNCCI) has welcomed the decision of the Nepal Rastra Bank (NRB) to relax some provisions in the working capital loans guidelines.
Speaking at the 16th International Footwear Industries Expo in Kathmandu on Thursday, FNCCI President Shekhar Golchha said only the revision of some policies in the guidelines can help the country deal with the challenges that the Nepali economy is seeing at the moment. “The government should immediately take needful steps to lower interest rates and make liquidity situation comfortable,” he added.
Stating that the new government has many challenges to deal with to solve the problems of the private sector, Golchha added that revenue has gone down due to the smuggling of goods into the country through open borders.
Also speaking on the occasion, President of the Nepal Chamber of Commerce (NCC) Rajendra Malla said that the government needs to amend some policies and laws to facilitate the country’s footwear industry. “The government should encourage the export of shoes and slippers,” he added.
