FNCCI: Resolve currency issue at diplomatic level

Published On: November 14, 2016 12:00 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 14: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the government to take needful arrangement for managing demonetized 1,000 and 500 Indian rupee bills in circulation in Nepal.  

Four days after the Government of India withdrew 1,000 and 500 Indian rupee bills from circulation, the leading professional body of the Nepali private sector drew the attention of the government to address the problem of different groups, saying that migrant workers, traders and those traveling for treatment to Indian cities and people living in villages along Nepal-India border possess huge amount of demonetized notes.

"People are worried. They  and now running from pillar to post to know how the notes can be exchanged," the FNCCI said in a statement on Sunday. 

The apex body of Nepali private sector has also has asked the government and the Nepal Rastra Bank to initiate talks at the diplomatic level to resolve the issue. 

Trading houses, industries, export/import firms and tourism enterprises in towns that share border with India have been affected by the Indian overnment decision to demonetize 1,000 and 500 rupee bills.

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