Birgunj industrialists welcome rental fee waiver in budget for FY 2025/26

BIRGUNJ, PARSA: Business leaders and industrialists in Birgunj Metropolis have shared positive responses to the budget for the upcoming fiscal year 2025/26. They say the new budget has encouraged the opening of new industries in the country.

Unveiling the annual budget for fiscal year 2025/26 at the joint session of the Federal Parliament on Thursday, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel announced that rental fees for new industries in the special economic zones (SEZs) and industrial estates targeting new licensed companies would be waived for the first three years.

The Finance Minister in the budget speech said, "The rental fees per square metre will be slashed to Rs 5 from Rs 20 per month in the SEZs, and the industries in the industrial estates will be given facilities equal to those in the SEZs if they export more than 30% of their total production."

Birgunj Chamber of Commerce and Industries President Hari Gautam said that the new budget has made efforts to boost the confidence of the private sector. "The budget is not as we expected, but attempts have been made to address some of the demands of industrialists and the business community," Gautam said.

According to Gautam, the decision to scrap the advance income tax levied on customs was a positive move. Likewise, he said that the government's decision to keep the tax rate unchanged on electric vehicles (EVs) should be taken positively.

Also commenting on the budget, economist Dipendra Kumar Chaudhary said that the budget has placed the private sector as a driving force for the nation's prosperity, which is a positive move.

The provisions of one-stop services for company registration and exit will offer additional support to uplift the private sector, Chaudhary added.

The budget has stated that the Amlekhgunj-Lothar petroleum pipeline expansion and the construction of fuel storage will be advanced in the upcoming fiscal year.

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