Rupandehi industrialists worry about financial crisis

By Our Correspondent 

Bhairahawa, Nov. 2:  Entrepreneurs of Rupandehi district of Lumbini province have expressed their worries stating  that they have become just a sector to collect taxes for the state. 

Speaking at an interaction among the various associations and organisations of the private sector organised by the joint election promotion committee on Tuesday, industrialists and business persons accused the state of turning deaf ears to their demands and requests in the wake of excessive interest rate hikes by the banks.

They were especially critical of the policies such as limiting the arrival of tourists, investing billions in the airport and not making it operational, exploitation by the banks even when the private sector tries to do something with a loan, charging less customs duty when importing ready-made goods than the raw materials. “Such policies have played fundamental role in creating the financial crisis,” they said. 

President of Siddharth Chamber of Commerce and Industry, Bhishma Neupane, said that the lack of vision of the government has created problems at the Gautam Buddha International Airport at the gateway of Lumbini, in Bhairahawa. 

According to him, the Integrated Check Post (ICP) should be constructed as soon as possible in Bhairahawa. 

Likewise, it is necessary to reduce the banks’ interest rate immediately. 

Anil Gyawali, President of Industry and Trade Association, Rupandehi, said that even if there were no customs duty for the goods coming to Nepal, their account should be maintained at the customs office in order to curb the illegal imports and smuggling of goods. 

Similarly, Chandra Prakash Shrestha of Nepal Hotel Association suspected the collusion of the government with the banking industry as the interest rate of the loan obtained at 8 per cent has reached 18 per cent.