Nepal Chamber of Commerce (NCC) issued a concept paper on November 30, 2015, Monday stating the country has suffered Rs 105 billion worth of economic loss due to the ongoing crisis resulting from the blockade. The amount is equivalent to 5 percent of Gross Domestic Product (GDP).

The leading private sector body said the country’s economy has been pushed back by a decade due to the blockade. Similarly, economic growth rate is expected to languish below 2 percent.

It further stated that not only has the crisis made people’s life miserable but has also become a curse for industrialists as their goods are lying idle at border points, leading to rise in demurrage and detention charges.

Criticizing the white paper issued recently by the government, NCC said the white paper has failed to deliver short-term and long-term solution to bail the country out of the crisis. “It also failed to announce immediate relief packages to people who have been suffering because of the blockade,” it added.

Stating that federal system wouldn’t be effective unless the country is economically sound, NCC suggested to the government to give equal priority to economic agendas like political agendas.

Meanwhile, NCC has forwarded a 15-point recommendation to improve country’s economy.