NADA Welcomes NRB's Decision To Scrap Cash Margin Provision On Imports

Nepal Automobiles Association of Nepal (NADA) has welcomed the government's decision to remove all provisions related to cash margin deposits on imports. According to stakeholders, the decision to scrap cash margin provision in imports will positively impact the automobile sector and other businesses to a greater extent.However, NADA is still lobbying for the cancellation of current capital loan guidance, modification of monetary policy, interest rate control, rescheduling of loans for the revival of the automobile business, special concessions on interest rates, removal of 50 percent cap on auto loan financing, and the adjustment in the bank's interest rate.Also Read: Automobile Dealers Hit The Streets Demanding Policy Change