Chamber of Commerce Leaders Urge Government to Raise Cash Transaction Limit Amid Banking Access Gaps
Summary
Leaders from Nepal's chambers of commerce urge the government to raise the NPR 500,000 cash transaction limit, citing banking access challenges and the need for business-friendly policies.
Key Points
- Chandra Prasad Dhakal, President of FNCCI, urges raising the current cash transaction limit of NPR 500,000.
- Dhakal emphasizes the need to shift economic policies from customs revenue focus to promoting domestic production and entrepreneurship.
- Kamlesh Kumar Agrawal, President of Nepal Chamber of Commerce, highlights complications caused by the banking system mandate for transactions above NPR 500,000.
- Agrawal calls for technology-friendly customs, full implementation of the one-stop system, and reconsideration of penalties in the Customs Act.
