NADA President Chaudhary Calls for Increase in Vehicle Loan Limit

Karan Chaudhary, President of the NADA Automobiles Association of Nepal, has urged the government to increase the loan limit required for purchasing vehicles. Speaking at the inauguration of the NADA Auto Show, which began Tuesday at Bhrikutimandap, he said that since the mobility sector has been a key driver of the economy, the state should also facilitate customers to keep the sector moving forward.

Chaudhary highlighted that the mobility sector has provided direct and indirect employment to hundreds of thousands of youths while also becoming a backbone for business and trade. He expressed optimism that the government will consider reviewing the loan limit for the automobile sector in the mid-term review of the current fiscal year’s monetary policy.

Stating that the association represents about 90 percent of automobile entrepreneurs across the country, Chaudhary said that the Auto Show is not merely an exhibition but also a major commercial hub, contributing nearly 40 percent of the total automobile business.

He further claimed that the automobile sector has made a significant contribution to Nepal’s economy, creating over one million jobs and bringing together around 3,000 entrepreneurs under a single platform.