Transport entrepreneurs demand refinancing and rescheduling of loans

Published On: July 26, 2021 09:41 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, July 26: Transport entrepreneurs have demanded refinancing of the public transport sector in the current fiscal year's monetary policy. It is considered one of the most affected sectors by COVID-19. 

The Federation of Public Transport has demanded that the monetary policy to be unveiled soon by the Nepal Rastra Bank should maintain at least base rate on interest including additional loans, refinancing and rescheduling of loans. They have asked the central bank to consider the COVID-hit period as zero period.

The Federation’s Central Secretary General Bharat Nepal said that the problems of entrepreneurs should be addressed through monetary policy as public transport is in dire situation. He also asked the stakeholders to immediately administer the vaccine against COVID-19 to transport workers and employees. The Federation has demanded adjustment of local and provincial level fares saying that public transport fares have not been adjusted for the past nine years.

The Federation has requested to immediately issue a circular to the concerned body for the implementation of the tax exemption related to vehicle renewal announced through the budget statement of the current fiscal year.


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