Submit formal suggestions to finance minister, industry minister and heads of related agencies for budget preparation
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Morang Udyog Trade Association has demanded control of illegal transactions from the Indian border market and has requested the government to adjust the import duty of food, clothing and other goods to maintain competitive prices in the Nepali market.
The union made this demand while meeting with the finance minister, industry minister and the heads of the related bodies to prepare the budget for the next financial year 2082/083.
The delegation headed by President Anupam Rathi met Finance Minister Bishnu Paudel, Industry, Commerce and Supply Minister Damodar Bhandari, Customs Department Deputy Director General Janakraj Sharma and others and discussed the budget. Suggestions have been submitted.
The association has also suggested that a long-term policy should be brought to attract new investments in the fields of agriculture, industry, education, tourism, etc., by reducing the high customs rate on raw materials, making use of adequate bank liquidity. The association has also demanded to increase the capital and development expenditure, change the date of the beginning of the financial year, and amend the Nepal-India Transport Treaty to bring the railway infrastructure built in the east into use.
Likewise, industrialist Naveen Rizal said that the establishment of a special economic zone in the Morang-Sunsari industrial corridor, budget allocation to complete the Biratnagar ring road construction, and creating an environment for the establishment of plastic and rubber re-processing industries are included.
'Customs management reform, implementation of seasonal customs rates, assessment based on actual bills, expansion of re-export policy, expansion of the rate and scope of subsidies for export promotion have been emphasized,' Rizal said.
Similarly, the association has put forward a proposal to increase multi-rate value added tax, income tax limit of individual and couple to 10 lakh and 12 lakh respectively, income tax exemption for export corporations, provision of excise duty refund at customs point, no excise duty on capital goods and removal of cargo vehicle fee which is against Nepal-India trade agreement.
