Finance minister urges business community to expand investment

KATHMANDU: Finance Minister Dr Swarnim Wagle on Tuesday urged the business community to expand investment with confidence, saying the government will create a supportive environment for investors.

Speaking at the first session of the budget implementation discussion series launched by the Ministry of Finance (MoF), Dr Wagle said, “The government is ready to create an environment conducive to investment and its protection.” He added that the government’s budget of Rs 2,124 billion is expected to drive the Rs 6,600 billion economy, with the private sector in the driving seat.

The minister said the budget includes reforms to open greater investment opportunities for the private sector and asked industrialists and business leaders to identify any remaining policy barriers that should be removed. He noted that the current year is the first year of the government’s five-year economic roadmap and that a series of reform measures has already begun, with further initiatives planned.

Dr Wagle called on the private sector to work with the government and reiterated the administration’s commitment to support business growth.

The discussion was attended by more than two dozen representatives from the business community. During the interaction, the minister assured participants that concerns and grievances related to excise and customs duty, export grants and the banking sector would be addressed through the establishment of an institutional mechanism.

(With inputs from RSS)