As revenue dries up, government aims to borrow loans from public enterprises to inject funds into struggling businesses
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Kathmandu, Sept. 17 -- The government plans to borrow loans from various public enterprises to inject funds into the pandemic-affected cottage, small and medium industries and tourism enterprises.
The government has announced the creation of a Rs50 billion fund through the budget for the current fiscal year 2020-21. Initially, it has allocated Rs1 billion to the fund.
Through this fund to be established at the central bank, the government plans to ensure availability of loans at five percent interest rate to the enterprises affected by the coronavirus pandemic to pay wages to their employees and get working capital to run the business.
As the revenue dried up due to restrictions in economic activities amid resurgence of coronavirus cas...
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