By A Staff Reporter

Kathmandu, Mar. 31: The private sector has welcomed the relief measures announced by the government and the Nepal Rastra Bank (NRB).
At a time when the country’s economy has been affected by the coronavirus (COVID-19) pandemic spreading across the world, the government and the NRB have brought the relief packages in terms of financial and policy level facilities for the affected sector.
Kamalesh Agrawal, vice president of Nepal Chamber of Commerce (NCC), said that the latest announcement of relief scheme by the government for the poor, daily-wage workers and the business firms was positive.
“This is the short term scheme of the government to provide relief to the businessmen and poor people. But the government should also introduce long term scheme considering the impact of coronavirus on the national economy,” he told The Rising Nepal.
Stating that there was no prediction that the situation would prolong and the economy of the country would be affected, he said that the government should introduce scheme by winning the confidence of the private sector and the general people.
Almost all industries except the ones producing essential goods are closed following the announcement of lockdown by the government, he said, adding that the government should make an environment for them to survive. The tourism sector has been badly affected by the COVID-19.
Issuing a press statement, Confederation of Nepalese Industries (CNI) appreciated the government schemes citing that announcement of relief would keep the encouragement and willingness of the private sector alive.
The certain amendment to policy by the NRB through the mid-term review of monitory policy would also support to maintain liquidity in sound position in the banking sector.
The nation’s central bank has extended the payment of monthly and tri-monthly installment of loan payable by three months.
The NRB has also barred the banks and financial institutions from imposing any additional charge and interest on the monthly or tri-monthly installments and interest.
Almost all sectors of the country have been affected due to the impact of coronavirus as the government has imposed a nationwide lockdown effective from last Tuesday to prevent and control the COVID-19 pandemic.
The hotel, aviation and tourism sector have been badly affected for the last one and a half months since the outbreak of coronavirus in China.
Stating that the government had introduced the relief scheme for the poor people and wage labourers and industries, it said that this step of the government was very positive amid the crisis.
It said that the government should announce mid-term and long-term relief package to revive the affected areas of coronavirus and support people falling below the poverty line.
“It is a must for the resumption of all affected and closed industries. For this, everyone should be responsible to do their best,” read the press statement.
It urged the government and the concerned stakeholders to uphold the confidence of the private sector for their business and investment in the crisis.
The CNI has been facilitating its member industries to run the factories and services for the supply of essential goods and support the government and the people during the abnormal situation caused by COVID-19.
Vice-president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal said that the extension of deadline for the payment of monthly and tri-monthly installment of loan and interest by three months was positive for the businesses and entrepreneurs, but it was not fully reassuring for the private sector.
The government should introduce relief package targeting all economic sectors which are badly affected by the virus for a long term, he said.
He expressed his hope that the government would address the problems of private sector and general people through announcing support programmes on the basis of its best analysis in the days to come.
“The present step of the government to control and prevent COVID-19 is appreciable and the FNCCI is ready to support the government to combat the coronavirus,” he said.