He also said that the Ministry of Finance would support efforts to improve customs administration and enhance efficiency in facilitating trade.
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Finance Minister Rameshwor Khanal has said that the Customs Act is in the process of being implemented.
At a program organized in the capital on the occasion of International Customs Day, Khanal said that a new Customs Act has been introduced to facilitate the private sector and that customs regulations are being formulated to fully implement the Customs Act. He said, "That is why the regulations are being approved by the Council of Ministers. The Customs Regulations will reach the Council of Ministers as soon as possible today."
Finance Minister Khanal said that the regulations will be passed after completing the process from the Council of Ministers and said that the private sector and the Customs-Finance Ministry should collaborate to reach a situation where there is no need to impose penalties.
He also said that the Finance Ministry will support in improving the customs administration and enhancing its efficiency in facilitating trade. Khanal also said that since he is a private sector-friendly Finance Minister, he is making various efforts for reforms.
