NADA Delegation Meets With The Governor To Discuss The Upcoming Monetary Policy

A delegation led by NADA’s President Dr. Dhurba Thapa has met with Maha Prasad Adhikari, Governor of Nepal Rastra Bank, to discuss and submit written suggestions regarding the monetary policy for the upcoming fiscal year 2080/81 B.S.

In the written suggestions, NADA has requested to maintain the risk weight in the monetary policy to 75 percent from the current 150 percent. Likewise, it has been requested to increase the Loan to Value ratio from 50 percent to 80 percent while disbursing the Hire Purchase Loan. NADA says this will make it easier for those who want to buy vehicles, resulting in improved imports of declining vehicles, and a natural increase in government revenue.

In this perspective, NADA has also requested that banks should make the payment in a specific period of time once the dealers receive the Delivery Order (DO) of a vehicle. If the payment is done in a timely manner, it will have a positive effect on the country’s revenue as well, says NADA.

In the same meeting, President Thapa expressed dissatisfaction over the current monetary policy and asked for better policies in the upcoming directive. NADA Treasurer Milan Babu Malla, Central Working Committee member and Head of Revenue Committee Akash Golcha, and Central Working Committee Member and President of the Far Western Automobile Dealers Association Pushkar Ojha were also present.