Entrepreneurs disappointed for non-implementation of refinancing scheme

Pokhara: The tourism entrepreneurs in Pokhara have expressed their concerns for non-implementation of refinancing scheme as stated in the monitory policy unveiled by Nepal Rastra Bank (NRB) in the wake of COVID-19.    
They have argued the scheme of being too disappointing and just limited to the paper, so the businesses were not likely to benefit from the scheme.    
Vice Chairman of Pokhara Tourism Council Gopi Bhattarai said that things were not as expected though the issues mentioned in the monitory policy were likely to address the problems caused by COVID-19 if they were well implemented.    
“A branch of a bank is supposed to select just five service recipients under this scheme but, on the other, around 70 per cent of the small and medium-sized enterprises (SMSEs) are not in banking access. So, the hassles in it cannot ensure justice to them,” he added.    
Bhattarai also sought to make this refinancing system more simplified.    
However, Chief of Nepal Rastra Bank Pokhara, Ishwori Prasad Bhattarai, said that the implementation part is smooth as per the central bank’s policy.    
He argued that the SMSEs can get up to Rs 1.5 million in loans in an easy and simplified way. According to him, the banks and financial institutions in Gandaki State have their 1,248 branches in total.    
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