Kathmandu: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has stated that the government is actively working to address the challenges faced by the private sector. In a meeting held on Monday, Paudel received suggestions from the Nepal Chamber of Commerce (NCC) regarding the formulation of revenue policies, economic bills, and the budget for the fiscal year 2025/26.
According to National News Agency Nepal, Finance Minister Paudel emphasized the government’s ongoing efforts to amend laws and implement necessary decisions to resolve longstanding issues in the private sector. He highlighted the importance of the private sector in the country’s economy and assured that the government would adhere to the recommendations of the High-Level Economic Reforms Suggestion Commission.
Paudel outlined the government’s commitment to steps that enhance national income and resolve economic issues. He noted that the upcoming fiscal year’s budget is being crafted to achieve significant progress, and the government is keen to bolster the private sector’s confidence and trust, acknowledging its crucial role in the national economy.
The minister also pledged to consider the NCC’s suggestions based on necessity. Kamlesh Kumar Agrawal, President of NCC, expressed that the private sector holds high expectations from the current government. He indicated that the implementation of the report by the High-Level Economic Reforms Suggestion Commission, which includes private sector input, would positively impact the economy.
Agrawal stressed the need for a budget focused on developing agriculture, tourism, and energy sectors, creating employment, and prioritizing commercial and industrial investments. The NCC submitted suggestions on 100 issues, including VAT, income tax, revenue investigation, money laundering, and customs.