”We are trying to create an investment-friendly environment in Wagmati Province”

kartik 12, 2081

Kundan Raj Kafle

”We are trying to create an investment-friendly environment in Wagmati Province”

We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:

This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.

Wagmati Province has been able to spend about 72 percent of the Banjet allocated annually. In the past, there were not many things like budget structure, laws etc. But now there are many things including structure, law. This is why our spending capacity has increased.

The state government has also made the expenditure system systematic and effective. We have made the regulation and monitoring of the process of spending the budget allocated for other projects very effective while transferring funds to the state's proud projects. We have been able to make possible ministries and subordinate departments responsible for this. This is why Wagmati province has been able to spend more budget than other provinces. 

Even now, the province has not been able to do many things related to revenue collection due to the fact that the union has not given enough legal authority. According to the law, now only in agriculture we can collect full tax . However, how to raise taxes when the farmers themselves are in trouble, and the agricultural sector is in trouble? There is no situation where the state can go to the farmer's house and collect the tax . However, there is a lot of potential to collect more tax from this sector . 

For the development of the economy, agriculture, industry and services should be given the first, second and third priority respectively, and the industry has been placed in the third position. Wagmati province has moved forward to manage this matter. 

The share of Wagmati province in Nepal's economy is 36 percent. The role of this province in the industrial and commercial sector of Nepal has become important. The days are not over that we should give priority to industry after agriculture. There is a weakness in it. We have a history of 88 years in jute mill industry . However, in terms of maturity, the government is not like 88 years old . When women, persons with disabilities, minorities, etc. operate industries in this province, we have been given a 50 percent tax discount. Along with fish farming, we have provided various facilities in the fields of other small industries, agricultural tools, information etc. . 

We are going to establish a provincial investment board to increase investment in this province and to encourage industrial business. When this province, which accounts for 36 percent of the economy, establishes an investment board, the deficiencies in this sector will be improved. The investment board will help greatly in creating an investment-friendly environment in this province. We have planned to look specially in the case of industry. Compared to other provinces, more laws have been made in this province. We also have a lot of capacity to collect and spend taxes. Wagmati Province is always leading in the interests of industrialists and increasing their confidence.  The central government has made a plan to operate the industries that have been shut down due to the possibility of

and hand them over to the private sector . This step of the government is very welcome. 

It is a very good thing that the government should leave the trend of bringing in a deficit budget, not spending it, and having irregularity in the expenditure. In the constitution of Nepal, it is said to bring economic growth along with the private sector. The government will make policy, the private sector will do business. The state also does business in areas where the private sector cannot do it . However, in the place where the private sector came before, he will be encouraged. The state will regulate and facilitate. Regarding the operation of the closed industry, why the industry could not be run yesterday, it should be improved and moved in a new way. So the number of industries is not just added. Therefore, it is beneficial for the state to bring closed industries into operation by choosing industries based on possibilities, needs and justifications . We are ready to provide all kinds of support to the central state in this process. 

There are also some closed industries in this province . Those industries are also included in the list of closed industries to be put into operation by the federal government. Investors from this province should get the first priority to operate those industries. It is not meant that investors from other provinces cannot run the industry. However, we are adamant that the first priority should be investors from this province. 

Raithani crops of Chitwan also need to be awakened. For that, the state government has the right and law. We are ready to discuss these issues with stakeholders. Come and sit, let's discuss and draw new conclusions. How is it that the state government is ready to provide all kinds of support for the economic development of this country?

- An edited part of the thoughts of Kundanraj Kafle, Economic Affairs Minister of Wagmati Province, in the program 'Chitwan Chintan' organized by Kantipur Media Group.

चितवन चिन्तन

Kundan

Link copied successfully