Govt working to address private sector's concerns: DPM Paudel

KATHMANDU: Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel has said the government has been working to address the problems of private sector.

Receiving suggestions from Nepal Chamber of Commerce (NCC) for the formulation of revenue policies and programmes for upcoming fiscal year 2025/26 at the economic bill and budget event in Kathmandu on Monday, Finance Minister Paudel said that the government has been making maximum efforts, considering the importance of the private sector to the country's economy.

"Significant efforts including amendments to laws were carried out to end problems facing the private sector for a long time soon after the formation of the incumbent government. We have been moving ahead making necessary decisions to implement it. The government will follow the report of High-Level Economic Reforms Suggestion Commission," he argued.

Stating that the government has taken steps one after another to increase overall national income, Deputy Prime Minister Paudel said that the government is serious and determined to resolve problems in the country's economy. "We have been working to prepare the budget for the upcoming fiscal year in a way to achieve more," he said, adding that the government is positive about boosting the self-confidence and trust of the private sector, given its important share in the national economy.

Finance Minister Paudel expressed his commitment to follow the suggestions of the NCC on the basis of need.

Similarly, NCC President Kamlesh Kumar Agrawal said that the private sector has high expectations from the incumbent government. "The government's policies and programmes will also help the country's economy become more dynamic in the coming days. The report of the High-Level Economic Reforms Suggestion Commission, comprising the private sector, has given important suggestions. There will be a positive sign in the economic sector after the implementation of the report," he mentioned.

Pointing out the need for a budget focused on the development of the agriculture, tourism and energy sectors, creating employment and an environment that prioritises commercial and industrial investment, the NCC submitted suggestions on 100 different issues, including VAT, income tax, revenue investigation, money laundering and customs.