Inflow of Nepal's remittance slows down

08:28, June 21, 2010      

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The inflow of remittance has started to slow down to around 10 percent against the growth rate of 40 percent in the last financial year, according to Nepal Remitters Association (NRA).

Even though the number of migrant workers has gone up by 23.7 percent in the current fiscal year, the remittance inflow has slowed down to an average of 10 percent, said Chandra Prasad Dhakal, president of NRA during an interaction organized here in the capital Kathmandu on Sunday.

According to experts, the reduced remittance flow has much to do with the transactions of the same through non-banking channels.

Around 30-35 percent of remittance is suspected to flow through non-banking channels.

The NRA suggested the government exempt tax on remittances and bring a new policy to refund the taxes collected from workers to discourage non-banking channels and an increase in remittance inflow through banking channels.

Nepal received 209 billion Nepali rupees (some 28.2 million U.S. dollars) through remittances alone in the last fiscal year.

Source:Xinhua

(Editor:黄蓓蓓)

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