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194 industries registered with foreign investment

Gorkha Post

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KATHMANDU — Total 194 industries have been registered with foreign investment at the Department of Industry during first eight months of the current fiscal year,according to the information provided by the Department.

10 large-scale, four medium-scale and 180 small-scale industries have been registered till March 14, the Department dais.

Among the industries registered, 11 are related to agriculture, four related to energy, 17 related to information, broadcasting and communication technology, 39 production-oriented, one related to mineral, 62 services related and 60 related to tourism.

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The investment above Rs 100 million is considered small industry, investment from Rs 100 to Rs 250 million is referred as medium scale and investment above Rs 250 million is taken to be big scale industry.

As of now around 7,500 industries have been registered at the department.

According to Department’s Information Officer Durga Prasad Bhusal, investment has increased in industrial sector with the formation of a stable government following the completion of three-tiers of governance. “Industrial sector has witnessed growth this year in comparison to the previous year”, he added.

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Economy

NRB to unveil monetary policy today

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KATHMANDU — Nepal Rastra Bank is unveiling the Monetary Policy 2018-19 on Wednesday, introducing a provision whereby domestic commercial banks will be able to hedge against convertible foreign currency by borrowing from foreign banks.

The central regulatory and monetary authority has opened a borrowing facility from foreign banks to meet the credit requirement in the production and infrastructure sectors, according to central bank sources.

The Monetary Policy is expected to bring down the cash reserve ratio from six per cent of the current fiscal to five per cent, eyeing the liquidity scenario.

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The monetary policy for the next fiscal will also narrow down the weighted interest spread rate from five per cent. In the context of commercial banks not being able to meet the priority sector lending mainly in the agriculture sector, the monetary policy is likely to extend a year’s period for banks to meet the priority sector or productive sector lending provision.

The Financial Sector Development Strategy of the government has also envisioned narrowing down the weighted interest rate spread.

According to the sources, the monetary policy would ease the provision of margin lending due to the depression witnessed in the stock market.

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