Finance Minister Swarnim Wagle said that regulatory bodies that were previously under his control have been made independent due to public intervention and now the government will move forward on a new path.
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Finance Minister Swarnim Wagle said that the private sector will be allowed to spread its wings, but the regulatory body will remain strong. In the inaugural session of the 60th annual general meeting of the Federation of Nepalese Chambers of Commerce and Industry, he also said that regulatory bodies have been captured in the past years.
'The private sector should be allowed to shine, spread its wings, but a strong state should be there,' he said, 'We believe that regulatory bodies should be healthy and capable. In the past few years, these regulatory bodies were captured. It was distorting the private sector. We were only forced to watch with bated breath.'
He said that the capture was broken after the intervention of the Nepali people. He also said that the current government would not go on the old path but would chart a new path.
He also said that he had committed to reducing the burden of all taxes. "As a party that pursues liberal economic policies with social justice, we have committed to reducing the burden of all taxes with a guarantee that revenue will not decrease, based on an advanced understanding with the private sector, not a compact contract, but an advanced understanding between the government and the private sector," he said.
