A five-member delegation led by NADA Chairman Dhruba Thapa has met Hon. Finance Minister Prakash Sharan Mahat to discuss various issues that have emerged in the automobile sector.

During the discussion, Chairman Thapa said that there should be an arrangement for loan rescheduling to keep the market running and that the risk burden of hire purchase loans, which is a major obstacle for banks and financial institutions to invest in the automobile sector, should be reduced to 75 percent. Similarly, the loan-to-value ratio limit should be increased to 75 percent from the current 50 percent.

Similarly, in the meeting, Chairman Thapa said that since automobile assembly industries are gradually opening up in Nepal, the government should categorize automobile industries in special areas and provide concessional loans accordingly, in order to encourage the establishment of such industries.

Moreover, the delegation also requested the Finance Minister to construct an international-level exhibition centre in Kathmandu. At the end of the discussion, Minister Mahat assured that efforts will be made to solve them.

NADA Vice-President Rajan Babu Shrestha, General Secretary Surendra Kumar Uperati, Central Working Committee member Prakash Kapuri and Nishan Dhakal were also present in the meeting and discussion.