Kathmandu: Deputy Prime Minister and Minister for Finance, Bishnu Paudel, has articulated that economic prosperity can be achieved by increasing power generation. During his address to a program organized by the Nepal Association of Financial Journalists (NAFIJ), Paudel emphasized the importance of not only boosting power production but also ensuring the purchase and enhancing consumption capacity of power.
According to National News Agency Nepal, the Finance Minister committed to introducing policies that would encourage private sector investment in hydropower developments. He highlighted the necessity for flexible banking and financial policies to safeguard such investments. Paudel also pointed out the importance of expanding both the tax net and tax rate while maintaining a stable tax policy, acknowledging the overall impact of taxation policies on the country’s development.
Paudel reaffirmed the government’s dedication to addressing irregularities in business practices, emphasizing the collective responsibility needed to maintain stability in tax policies and rates. On the occasion, several journalists were honored for their contributions to economic development through their reporting.