NA endorses Finance Bill-2082 BS, National Debt Collection Bill-2082 BS

KATHMANDU: The National Assembly (NA) meeting today passed two bills: Finance Bill, 2082 BS, and National Debt Collection Bill, 2082 BS. The Upper House endorsed both measures and forwarded them to the House of Representatives (HoR).

Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel presented the proposal that these bills, received from the House of Representatives (HoR) with a message, be passed without amendment and sent back to the Lower House. The proposal was unanimously passed. 

During deliberations, Minister Paudel explained that a luxury tax on gold ornaments had been introduced to improve transparency in gold transactions and address concerns raised by the international community.

While scrutinising the Finance Bill clause by clause, he stressed that policy and legal reforms are needed to remove Nepal from the Financial Action Task Force’s Grey List, owing to deficiencies in its anti-money-laundering and counter-terrorist-financing framework. “This will ensure transparency in gold transactions and bring the trade into the tax net, thereby curbing illegal activity,” he said.

Responding to queries on the National Debt Collection Bill, Minister Paudel described the budget for the upcoming fiscal year—announced on May 29—as the strongest yet in terms of appropriations, revenue estimates, international aid and external-debt management. He expressed confidence that internal debt will be mobilised for production, productivity growth and capital expenditure.

The NA rejected a series of proposed amendments by a majority vote. Its next sitting is scheduled for Tuesday, July 9.

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