Govt working to boost morale of private sector: Finance Minister Khanal
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.
Finance Minister Rameshwar Khanal has said that the government is constantly trying to increase the morale of the private sector. Finance Minister Khanal expressed this view in a meeting with Nepal Chamber of Commerce and Industry President Chandra Prasad Dhakal, Nepal Industry Confederation President Birendra Raj Pandey and Nepal Chamber of Commerce President Kamlesh Kumar Agarwal.
The government has announced tax exemptions, banking concessions and insurance facilitation programs for reconstruction. Similarly, it is expected that after abolishing the price and implementing the online database system in the customs, transparent transactions will be supported in the market.
Presidents of private sector representative organizations have praised the government's move. All three organizations have urged their members and entrepreneurs to use the new database process linked to the demands of the private sector. The system, which was inaugurated by Finance Minister Rameshwar Khanal on October 9, is expected to address businessmen's complaints regarding the reference book, which is revised every six months.
In this system, the price details of all items that pass the inspection will be collected. According to the government, this digital resource will help in analysis and comparison of goods that have passed customs inspection and help in identifying the transaction value. During the
meeting, private sector representatives said that the infiltration during the youth movement for positive change has attacked the private sector, which accounts for 81% of the economy and 86% of employment. This has discouraged enterprising businessmen. They drew the government's attention to the fact that if action is not taken against those involved in such intrusions, looting and arson, the private sector will be further discouraged and immediate legal action should be taken.
Stating that the private sector will continue to be active in maintaining zero tolerance against corruption, they said that the government should also create an environment where entrepreneurs can work freely.
As the government is addressing the demands of the private sector as soon as possible, the presidents urged their members and businessmen to do business honestly in accordance with the code of professional conduct.
Noting that the current government's main goal is the election, it is also an opportunity to lay the foundation for reform, they stressed that all stakeholders should be reassured by holding a multilateral finance conference led by the private sector or involved in order to attract investment and other resources. They also said that the private sector is ready to help and cooperate in conducting the elections on time as the elections will strengthen the open market and democratic system.
