NCC urges govt to boost investor confidence with policy support
KATHMANDU: Nepal Chamber of Commerce (NCC) has urged Finance Minister Rameshore Prasad Khanal to provide policy support to resolve economic problems and boost investor morale.
A delegation led by NCC President Kamlesh Kumar Agrawal recently met Minister Khanal at Singha Durbar and sought assurances on industrial and business security and investment‑friendly environment.
The chamber said it is confident the government prioritises policy clarity, investment‑friendly environment and business security in partnership with private sector.
The NCC requested further facilitation of investment‑related policies to attract domestic and foreign capital and recommended strengthening state‑private sector dialogue. It asked for concessional loans, interest subsidies, tax exemptions and waiver of renewal fees for small, cottage and medium enterprises affected by the protests.
The chamber urged adjustment of tax rates in Nepal following recent GST changes in India and proposed a maximum customs duty of 25%. It suggested exempting excise duty on domestically produced goods not on the negative list and implementing multiple VAT rates to curb cross‑border smuggling and increase revenue.
The chamber thanked the government for adopting transaction value as the basis for valuation, removing the reference book and introducing an online valuation system at Biratnagar Customs Office, and urged immediate rollout of the system at all customs offices. It said customs duty should be fixed on the bill price for imports by reputable and multinational companies, imports via letters of credit, agency imports and GST‑based imports.
The NCC also called on the finance minister to end forceful tax collection arising from unclear laws, and suggested extending tax deadlines and waiving penalties and interest for businesses hit by the protests.
Likewise, NCC president Agrawal told Minister Khanal that the World Bank’s latest growth projection of 2.1% had alarmed the private sector.
Minister Khanal said the government is working to create investment‑friendly environment and provide security assurances to revive the economy.
