Private sector advise NRB to bring out flexible monetary policy

As the central bank is shortly going to unveil the monetary policy for the fiscal year 2007/08, private sector representatives from business and banking community have appealed to the Nepal Rastra Bank (NRB) to stress on flexibility.

At an interaction programme held by the central bank on Wednesday, they said that flexible monetary policy will 'give an impetus to sluggish economy.' The private sector representatives emphasized the need to ease foreign exchange regulations, among others.

Vice president of Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Diwakar Golchha, demanded reform in policies for triggering development.

Rajendra Khetan, an industrialist, pointed at the high cost of doing business in the country. "The central bank can adopt monetary measures to boost the economy by reducing the cost of doing business," he added. He also demanded export-import policy.

At the programme, Krishna Bahadur Manandhar, acting governor of NRB, promised to bring out prudent and practical monetary policy. nepalnews.com Jul 19 07