NRB, FNCCI sign MoU to formulate comprehensive economic policy

A memorandum of understanding has been reached between Nepal Rastra Bank (NRB) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) to formulate the comprehensive economic policy and enhance the industrial and business environment.

In the presence of Governor of the central bank Maha Prasad Adhikari and the FNCCI President Chandra Prasad Dhakal, the MoU was signed by Dr Prakash Kumar Shrestha, executive director of the bank’s research department, and the FNCCI Director-General Gokarna Raj Awasthi amid a function here today.

According to the agreement, the bank and FNCCI will conduct a fact-based study on various issues. On the occasion, saying that the agreement had created an opportunity for the two institutions to go ahead hand-in-hand, Governor Adhikari expressed the hope that it would help increase the participation of the private sector in policy-making in the days to come.

Similarly, thanking the central bank for its cooperation with the private sector, the FNCCI President Dhakal offered his confidence that the MoU would help in formulating a reality-based policy in the future apart from helping disseminate right information.

According to the MoU, the FNCCI and member organisations will provide required information for the bank to carry out a study while the bank is required to provide required technical assistances for the FNCCI to conduct a study. A joint research will also be carried out in need.

A facilitation cell will be created to implement the agreement that will be valid for five years. Others present on the occasion were the Rastra Bank Deputy Governor Dr Nilam Dhungana, the FNCCI senior vice president Anjan Shrestha, and vice presidents Surkrishna Baidhya, Hemraj Dhakal and Jyotsana Shrestha.