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Shortage of Banknotes In Nepal
BY KTM Metro Reporter in Kathmandu
Nepalis have been facing the shortage of not only the utilities such as water and power but also currently the banknotes. Some storeowners have complained that their business has been down by almost 70% this year during the Dashain festival in comparison to the past Dashain festival because of the shortage of banknotes. Even in Kathmandu, the state-run commercial banks have not been able to cash the checks due to the lack of cash in the banks. However, the concerned official of the Nepalese Central Bank called Nepal Rastra Bank has said that recently the Central Bank has issued four billion worth of banknotes of five hundred denomination printed in Franch to cope with the shortage of the banknotes.
Nepalis have been facing the sky-high prices of foodstuff, and shortage of other items such as sugar and so on since Madhav Nepal became the Prime Minster. Some market analysts have drawn the parallel between the shortage of petroleum products during the two-year period from 2006 to early 2008 of Prime Minister Girija Koirala and the current high prices of foodstuff.
Most probably, both the Prime Ministers have created artificial shortage of petroleum products and high prices of foodstuff for their benefits causing tremendous trouble to the common folks. However, the administration of both the Prime Ministers have pretended to mitigate the shortage of petroleum products and high prices of foodstuffs sending the bogus state officials to check the retailers.
