FNCCI to govt: Extend loan repayment period for small businesses

KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has requested the government to extend the loan repayment period for businesses, especially small businesses.

A FNCCI delegation met Finance Minister Bishnu Prasad Poudel and urged him to extend the loan payment period for businesses by at least three months.

The FNCCI delegation had met Poudel following constant complaints from small businesses that banks and financial institutions (BFIs) are constantly pressurizing them to clear their interest due and loan.

FNCCI believes that half a million of small and medium scale industries will be closed if the loan payment period is not extended.