Finance Minister stresses need to increase efficiency in customs revenue collection

KATHMANDU: Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, has said that the need for a new Customs Act has been recognised to further systematise customs procedures and enhance accountability, with the aim of facilitating safe and efficient international trade.

During discussions in principle on the Bill, drafted to amend and integrate laws relating to customs, at a meeting of the Committee for Legislation Management of the National Assembly (NA) on Wednesday, the Finance Minister stressed the need to increase efficiency in customs revenue collection and contribute to the country’s economic development.

Minister Paudel assured that the Bill aims to protect domestic industries, promote exports and attract foreign direct investment by simplifying customs procedures and making them more technology-friendly.

According to the Minister, customs-related laws had to be amended to facilitate legitimate trade and effectively discourage illegal trade.

Stating that the Bill incorporates new provisions and revisions, the Finance Minister said it includes the duties, responsibilities and powers of the chief customs officer and other customs officers.

Previously, the Bill was discussed in the Finance Committee of the House of Representatives and was sent to the National Assembly along with suggestions and remarks.

Committee Chair Tulasha Kumari Dahal said the Committee received the Bill, a comprehensive one, so late that only five days remained before the deadline for its response to the document. It is a challenge for the committee, she added.

The Bill proposes to amend and integrate 154 clauses, while 21 members of the National Assembly have sought amendments to 133 points. The Finance Committee’s submissions relate to 88 points. 

By RSS