Finance Minister Wagle says the government's policy is to gradually relax regulations on the real estate sector.
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 Swarnim Wagle has said that the government is ready to accept the legitimate demands and suggestions of the private sector. In a budget discussion organized by the Nepal Chamber of Commerce on Wednesday, he said that the government is ready to make factual demands of the businessmen.
He also urged the businessmen to present their demands based on evidence and facts. ‘Some ups and downs may have happened. For example, in the case of paddy and rice, tell them with evidence that this policy is wrong for this or that reason, it is not in the national interest. If that is the case, I am ready to revise the policy next year,’ he said.
He said that the sluggishness of the real estate sector has become a challenge for the economy. He said that no concrete decision could be taken immediately due to lack of sufficient discussion on issues such as land limits. However, he informed that the government has a policy of gradually easing the real estate sector to make the large amount of money stuck in cooperatives and other sectors operational. He said that before the upcoming budget, if necessary, coordination will be done with Nepal Rastra Bank on providing relief to the real estate sector, including through monetary policy.
‘Real estate has not been given much time this time. There were also things like this limit to revive real estate, we brought it up in discussion, but there were not enough grounds to address it exactly. But our idea is to gradually ease it,’ he said.
