Government announces relief package for flood-hit entrepreneurs
Summary
The government has announced a revival package for entrepreneurs hit by the Bhotekoshi floods, including customs duty waivers, concessional loans and loan restructuring. The relief measures will apply after Nepal Rastra Bank issues directives, with a focus on damaged vehicles, machinery and goods.
Key Points
- The Cabinet approved a revival package for flood-affected entrepreneurs on the recommendation of the Ministry of Finance.
- The measures include full customs duty exemptions for replacement vehicles, plants, machinery and equipment destroyed in the Bhotekoshi floods.
- Borrowers will get a one-year concessional loan facility and may restructure or reschedule loans once.
- Banks will also be allowed to extend additional loans to help revive industries, trade and employment in affected areas.
