Kathmandu: Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, emphasized the necessity of a new Customs Act to further systematize customs procedures and enhance accountability. The aim is to facilitate safe and efficient international trade.
According to National News Agency Nepal, the Finance Minister shared these views during a meeting of the Committee for Legislation Management, National Assembly (NA), where discussions were held on a Bill drafted to amend and integrate laws related to customs. Minister Paudel highlighted the importance of increasing efficiency in customs collections and contributing to the country’s economic development.
Minister Paudel assured that the bill is designed to protect domestic industries, promote exports, and attract foreign direct investment by simplifying and making customs procedures more technology-friendly. He mentioned that amendments to customs-related laws are essential to facilitate legitimate trade and effectively discourage illegal trade.
The Finance Minister noted that the Bill introduces new provisions and revisions, outlining the duties, responsibilities, and powers of the chief customs officer and customs officer. Prior to this, the Bill underwent discussions in the Finance Committee of the House of Representatives and was forwarded to the National Assembly with suggestions and messages.
Committee Chairperson Tulasha Kumari Dahal expressed concern over receiving the comprehensive Bill with only five days remaining to respond. This presents a challenge for the committee. The Bill proposes amendments and integrations to 154 clauses, with 21 members of the National Assembly seeking amendments to 133 points. The Finance Committee’s submissions address 88 points.