Finance Minister Wagle said that a policy will be adopted to solve the problems seen in the economy as a whole, not in pieces, and that systemic reforms will be implemented by removing discretionary powers.
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Newly appointed Finance Minister Swarnim Wagle has taken charge. After taking oath before President Ram Chandra Poudel, he formally assumed responsibility at the Finance Ministry today.
While taking charge, Finance Minister Wagle expressed his commitment to implement the important suggestions of the High-Level Economic Reforms Suggestion Commission, 2081. He informed that it has been decided to abolish the Revenue Investigation Department and immediately proceed with the process of abolishing or amending 15 different acts as per the commission's recommendation.
Finance Minister Wagle said that the 'economic status report' up to Chaitra 11, 2082 will be prepared within five days and a 100-day, semi-annual and annual action plan will be made to implement the election manifesto. He mentioned that the government will move towards effective implementation by internalizing the election manifesto of the Rashtriya Swayamsevak Sangh (RSS) party.
Finance Minister Wagle is also committed to giving priority to the protection and promotion of private enterprises and businesses, facilitating large development projects and removing procedural hassles, formulating new bills and amending existing laws. 'Now, an environment will be created for large projects to move forward quickly,' he said.
Finance Minister Wagle said that a policy will be adopted to solve the problems seen in the economy as a whole, not in pieces, and mentioned that systemic reforms will be made by removing discretionary powers. He informed that the implementation of the recommendations of the Public Expenditure Review Commission, increasing domestic production, creating jobs and preparing a transformative budget will be prioritized.
He also said that the efforts to promote the electronic governance system and move towards a 'paperless' and 'cashless' system have been initiated by the Ministry of Finance.
According to the report of the High-Level Economic Reforms Suggestion Commission, the acts to be repealed include the Income Stamp Duty Act, 2019, the Black Market and Certain Other Social Offences and Punishment Act, 2032, the Nationalization of Private Forests Act, 2013, the Administrative Procedures (Regulation) Act, 2013, the Compensation Act, 2019, the Excise Tax Abolition Act, 2016, the Excise Tax Deduction Act, 2015, the Revenue Leakage (Investigation and Control) Act, 2052, the Foreign Investment Prohibition Act, 2021, the Nepal Agency Act, 2014, the Provincial Development Plan (Implementation) Act, 2013, the Export-Import (Control) Act, 2013, the Social Behaviour Reform Act, 2033, the Nepalese Currency Circulation Act, 2014, and the Financial Intermediation Institutions Act, 2055.
Wagle, who is also the Vice President of the Rashtriya Swayamsevak Sangh (RSS), also said that the current government, which has received a historic mandate, will adopt a private sector-friendly policy and advance a comprehensive roadmap for economic and legal reforms.
