Finance Minister Bishnu Paudel said that the Governor of Nepal Rastra Bank will be appointed as soon as possible. He also claimed that the candidate of that level who believes that the country has made a good decision will be appointed as the governor. The formal meeting of the recommendation committee formed under the coordination of Deputy Prime Minister and Finance Minister Paudel has not yet been held. He said that the meeting will also be held in the near future. He also said that the country will get a qualified governor that the country believes in. The committee formed on March 11 by the decision of the Cabinet has not been able to meet. The post of governor is vacant after March 24. According to the National Bank Act, a new governor should be appointed one month before the post of governor becomes vacant. Before the end of the tenure of the then Governor Mahaprasad Adhikari, the government formed a recommendation committee under the coordination of Deputy Prime Minister and Finance Minister Paudel, with former Vice Chairman of National Planning Commission Vishwa Paudel and former Governor of Rashtra Bank Vijayanath Bhattarai as members. After Bhattarai resigned, the then Governor Adhikari has now been appointed as a member. But another member, Poudel, has already resigned.

Deputy Prime Minister and Finance Minister Bishnu Paudel has said that the construction of the cricket stadium at Kirtipur in Kathmandu will be completed soon. In the third session of the interactive program on 'Questions to the Finance Minister', Paudel said that the construction of the stadium will be completed soon, even if it is delayed a bit. He claims that even though the construction of the stadium is the priority of the government, even if it is delayed due to various reasons, the construction will be left as soon as it is completed. Prime Minister KP Sharma Oli, after the formation of Congress and UML alliance, decided to build a cricket stadium as his first decision. However, the construction of the stadium has not progressed rapidly.

Finance Minister Bishnu Paudel has said that the budget for the next fiscal year will be brought in neither big nor small, just the right size. Although he did not disclose the amount of the budget, he said that a balanced budget will be presented as per the requirement."This year, the budget is made in the size of a thikka," he said at the Kantipur Economic Summit, "neither big nor small, it is made in a thikka." Don't motivate me to say numbers.'Finance Minister Poudel responded that the reason for the delay and confusion in capital expenditure is multi-faceted."There is no single reason why we get confused," he said, "Problems at the legal and structural levels, project selection, preparation and implementation process are all problems." We will have to enter every level and find a solution.According to him, overall reform in terms of policy, law and implementation is necessary for the improvement of capital expenditure. He pointed out the challenges of infrastructure construction, not completing the project on time, not completing it with quality and not being able to complete the work at the allocated cost as the main challenges."Now we don't sit looking at the obstacles to development," said Paudel, "We will improve the situation of capital expenditure by solving the problem as a whole."

Former Finance Secretary Rameshwar Khanal has suggested that Nepali youth should invest abroad to become internationally competitive. He said that it should be regulated.Khanal said that internal development is not enough for sustainable economic growth of Nepal, and opportunities should be sought through offshore (foreign) investment.According to him, Nepalis have expertise in areas such as adventure tourism, cable car and construction. He pointed out that there is a possibility that these capabilities can be taken to the international market. "Crisis comes from everywhere," he said. That is why openness is necessary. He gave the example of countries like India, Malaysia, Pakistan and China that have gradually opened their doors for foreign investment and opined that Nepal should follow the same path. According to him, Nepal will get long-term benefits like expertise, network and global presence from this.

Chandra Dhakal, President of the Federation of Nepal Industry and Commerce, said that many things will be accomplished if the things included in the report of the High-Level Economic Reform Suggestion Commission led by the former secretary Rameshwar Khanal are implemented. Speaking at the second session of the Economic Summit 2025 organized by Kantipur Media Group in Kathmandu on Wednesday: In search of meaning, not numbers, President Dhakal said that the government should emphasize on the implementation of the Commission's report. If the suggestions given by the commission are implemented, it seems that many things will be fulfilled as we expected, he said. It seems that there will be a change in the opinion that only the private sector will benefit. He also said that the suggestions given by the commission will increase the economic activity of the private sector. Economic activity has shrunk after Covid, this data also shows. We said that we should not ban imports. We said import ban is not a solution, he said, we actually suggested that. The fact that they made this suggestion after looking at themselves went to the government and employees and our suggestion was not implemented. He said that as a result of that, the goods that were coming formally started coming informally. If it was only through foreign currency accumulation, it should be very good now, he said, at that time banks and financial institutions had double digit interest rates. If the interest rate of banks and financial institutions should be reduced to single digits now, it should be good even now. In this, we did not bring a policy of proportional calculation. We brought it full of hachuwa. Now, what the businessman said at that time is correct.

Finance Secretary Ghanshyam Upadhyay said that the size of the budget will exceed 32/33 percent of the Gross Domestic Product (GDP), but only 26/27 percent will be spent. "Capital expenses cannot be spent quickly and there is a limitation in operating expenses," he said.He said that wasteful expenditure cannot be controlled, but after reaching a certain point due to capital expenditure, a situation is created where the size of the budget has to be reduced to make the implementation effective. He pointed out that the revenue collection is less than projected based on the sources. "After the growth of 40/41 percent and 10 to 12 thousand projects are listed in one day, the budget will have to be reviewed," he said.He reiterated that the government is concerned about how to improve the implementation issues and has formed a commission to represent the private sector. "The government is at the point where reform starts," he said. Upadhyaya said that the government has moved forward to bring a real and implementable budget, but rather than the size of the budget, the government is moving towards promoting productivity and the private sector in implementation. "Yesterday's budget itself is not only a technical paper, but also a policy document that expresses political will and communicates hopes and expectations to the public," he said, "The unprecedented political change, the change in the governance system, the government tries to address the fundamental rights, policies, principles of the state, and the expectations of the citizens declared by the constitution. But once the institutional capacity and stable resources reach a certain point, it should be reviewed. The government has moved forward to make it realistic.

Technology and finance researcher Dr. Amrita Sharma said that even the human resources who have graduated in Nepal are not skilled. Speaking in the second session on 'Budget numbers, not the search for meaning', she said that although there is a lot of potential in the digital sector in Nepal, there is not enough investment in building its foundation. More than 17 thousand graduates come to the digital field every year. But if we talk about quality and ability, many are less", she said, "Employers train 85 percent of graduates for 6 to 9 months. But after training, most of the workforce leaves.

Former Finance Secretary Rameshwar Khanal has said that Nepal should reconsider its policy of pegging the Nepalese currency with the Indian currency. According to him, due to this system, domestic production has become difficult to become competitive in addition to hindering the expansion of Nepal's domestic production capacity."We are establishing a relationship with India by our own will, but if we want to develop our competitiveness, we should reconsider the issue of pegging," he said. Khanal said that due to the peg, Indian goods are becoming cheaper in Nepal and it has hurt Nepali agricultural products and farmers. "Our products have become unable to compete," he said. Our development journey is at the bottom. If you want to go on the high growth path, you should reconsider.

Technology and finance researcher Dr. Amrita Sharma said that there is not enough investment in the digital sector. Speaking at the second session of the Kantipur Economic Summit-2025, 'Budget: Not Numbers, Search for Meaning', she said that although there is a lot of potential in the digital sector in Nepal, there is not enough investment in building its foundation. There is a lot of potential in the IT sector in Nepal. In the next decade, more than 70 percent of businesses will be digitally transformed. Based on that, there has not been enough investment," she said. "The digital practice has proceeded in the wrong way. Resources are being wasted.

Finance Secretary Ghanshyam Upadhyay has said that the budget of the next financial year will address and implement the report of the High-Level Economic Reform Suggestion Commission in detail. In terms of capital expenditure, the allocation will also be reduced, he said. He said that despite being within the allocated capital expenditure, the plans could not be prioritized. He said that because there are no pre-prepared projects, there are scattered projects, even the allocated capital expenditure has not been spent. According to the commission's report, the government has moved forward to cut down, restructure and prioritize unproductive projects that are scattered and repeated to promote the productivity of the private sector. Finance Secretary Upadhyay said that the government has already amended the procurement regulations to increase the capital expenditure and the procurement act is in the process of being amended. He said that the government is working to address the problems in land acquisition, forest sector, etc. through the budget, sectoral policies and laws. Upadhyaya also said that the government has recently amended more than 26 laws to create enthusiasm for investment in the private sector.He said that in the future, the government will give priority to capital expenditure to increase the productivity of the private sector by making further structural, policy and legal reforms.

Former Finance Secretary Rameshwar Khanal, who is also the chairman of the commission, has said that the government's response to the report of the high-level economic reform recommendations commission submitted to the government is positive and different compared to the past.According to him, the important reports prepared by the commissions and committees in the past tend to be stored without being made public for a long time, so they were made public this time. "The report of the Public Expenditure Review Commission submitted by Dilliraj Khanal was also made public only after a long time," he said. According to Khanal, reports in the past have not been fully implemented. He recalled that the report of the Public Expenditure Review Commission, which he was active in, was almost fully implemented in 2057. "Based on that, then Finance Minister Ram Sharan Mahat removed 222 projects, the budget size dropped from 50 billion to 40 billion for the first time," he said. This time, Khanal believes that it is positive for the government to publish the report of the commission as soon as it is understood and to include it in the policy and program. He said that it is encouraging to use the language of the report in fields like agriculture, education, and health."When we started the reforms in 2048, we opened one window of a closed room, but now we are trying to open all the windows," he said, "This is a remarkable change (remarkable departure). This report should be implemented with courage.

Chandra Dhakal, President of the Federation of Nepalese Industries and Commerce, has said that although the issues raised by the private sector are included in the government's policies and programs and budget, their implementation is rare. Speaking on the second session of Kantipur Economic Summit 2025: 'Looking for meaning, not numbers', President Dhakal said that the pace of its implementation is slow. "The problems we have been raising for a long time have been included in the report of the high-level economic reform suggestion commission led by former secretary Rameshwar Khanal," he said. "Many laws have been changed based on the suggestions we have given."He said that although the laws that have been changed are very well planned in the government's policies and programs and budget, there is a problem in implementation. "But it has not been implemented according to the speed," he said.He says that increasing the source of revenue is now the government's priority. "When a taxpayer pays taxes in a foreign country, he is treated well, he is looked at well," he said, "but if we can change the way we look at the private sector, we will get the results we want."

Ncell's Chief Executive Officer (CEO) Jabbor Kayumov has urged the government, regulators and policy makers to take the challenges of the telecom sector seriously. He complains that his words are not heard and are sometimes misinterpreted. "We are speaking, we are sharing our concerns, but there is no effort to listen to us," he said, "Let us solve our problems ourselves, but listen to us." He reiterated that the income of the telecommunication sector is continuously decreasing and it is difficult to invest in new technology when the tax rate is high. According to Kayumov, Ncell has deposited 11 billion rupees in the Rural Telecommunication Development Fund in the last few years. "In 20 years, we have paid 340 billion rupees from the telecom sector, which could have built 7,000 kilometers of roads," he said. Kayumov described Ncell as a 'plant' that gives significant returns and said it should be nurtured. "This plant is sensitive, if not taken care of, it can dry up and die," he said. Therefore, this is a worrying issue.

Vishal Group director Anuj Agarwal has said that goods are being illegally imported into Nepal due to the reduction in tax rates in India. Speaking in the first session of the Economic Summit-2025 organized by Kantipur Media Group in Kathmandu on Wednesday, he said that the revenue of the government is decreasing when goods are imported illegally. The Indian government has been reducing taxes in various sectors for the last 5-7 years. But in our country, the government has increased it," he said, "due to which goods are being illegally imported into Nepal from India. Those goods are being consumed but are not reflected in the revenue. Therefore, it is necessary to control it.

Upendra Paudyal, Chairman of Nabil Bank, has said that despite paying a lot of taxes to the government, they will be discouraged while taking services. "When I was earning a little, I thought I could pay taxes too. Later, while paying taxes, we have paid a lot of taxes. But there has been a lot of harassment when going to get services," Paudyal said. "Trust between taxpayers and the tax administration should be increased. The government should create an environment to pay more taxes.He said that it is necessary to make a decision that will help the banking sector. "Going beyond the international practice, there is also a tax that is not justified in any way. Such taxes should be withdrawn by the government. It will have a positive effect," he said.

Ravi KC, vice president of Surya Nepal, said that only the companies he represents pay 45 billion rupees in taxes annually. "The liquor company represented by me and Surya Nepal alone pay 45 billion rupees in taxes to the state annually," he said.He said that when he sells goods worth 100 rupees, he gets 70 rupees to the government and only 2 rupees as profit. ``70 rupees should be paid to the government, after deducting the raw material, bank interest rate, and office operating expenses for 30 rupees, the profit is only 3 rupees,'' he said. KC said that government and non-governmental organizations in Nepal are running because they are seen to be responsible for economy and health. "It seems that government and non-government organizations are trying to make Nepal a paradise by showing wrong data on smoking and alcohol consumption," he said, "If you don't drink pure water, you will get many diseases." But it doesn't matter with water. There is no need for infrastructure.He said that the government is unaware of encouraging illegal trade by increasing taxes on alcohol and smoking. "Fake and illegal smoking materials are scattered in the border area," he said.

Chief Executive Officer (CEO) of Ncell, a private sector telecommunication service provider, Jabbor Kayumov has said that there is a challenge in introducing 5G technology in Nepal. According to him, it is not possible to invest in such new technology due to high taxes and lack of capital. Also, he says, there is no professional base."5G is necessary, but it requires a lot of capital," he said. How to invest in 5G in such a situation?' He said that the reason why India can provide 5G service in every village is because of business friendly environment. "In India, after paying taxes, companies can invest the remaining profits in new technology, that is not possible here," he said, "In this way, it is difficult for both Ncell and NTC to introduce 5G." He said that there is a tax exemption system for telecommunication companies in Bhutan. Kayumov emphasized that the tax policy and license regime of the telecommunication sector in Nepal should be improved and the decision-making process should be made faster.

Vishal Group director Anuj Agarwal said that the government has no room to increase the tax rate without preparing the base of the economy. Speaking in the first session of Economic Summit-2025 organized by Kantipur Media Group in Kathmandu on Wednesday, he said that the proportion of taxes in Nepal's gross domestic product is the highest in South Asia. We will increase the tax on the formal sector. The ability to invest decreases as much, he said.

Ravi KC, vice president of Surya Nepal, said that the taxation of industries has become a serious problem in recent times. He complained that although the principle of accounting is the same, the tax assessment differs from group to group. The principle of account is the same. But while determining the tax, what is done by one group is not accepted by another group," he said. For example, the tax is not determined for four years, but when the tax is determined after four years, the investment and profit brought by that industry cannot pay the tax and the penalty, he said. He said that investors have to be in a state of stress not only when investing, but also all the time. KC says that while the corporate culture in Nepal looks clean, one has to face various problems while working. He said that not only the multinational and foreign investors but also the natives do not have the confidence to invest in Nepal now. According to the principle of taxation, transparency and benefit of doubt will be given to taxpayers and if there is a single practice from tax assessment to court, confidence will increase among investors and investment environment will be created, he said. He said that the Auditor General's audit report is another problem. "We don't have direct contact with the Accountant General," he said.

Ravi KC, Vice President of Surya Nepal, said that multinational companies could not enter Nepal due to complicated policies. He said that 30 years ago many multinational companies entered, but now there is a policy problem of not being able to enter new ones. Businesses come and enter the corporate culture rather than the owners of multinational companies. But there are problems in Nepal from industry registration to environmental impact assessment (EAA) etc., he said. He said that the investors of multinational companies prefer to invest in a country with a clean environment and a simple political system. He says that it is difficult to build large industries because the government has fixed the land ceiling for large industries as well as individuals. "It has been six years since Surya Nepal started opening a hotel in Hattitigounda, everything is ready to invest 6 billion," he said, "but the government has stopped it because the land has exceeded the limit. Big industry requires a lot of land. But the ceiling of land has been set for the industry as well as for individuals.He also claimed that Nepal is the most suitable place for setting up the industry. Manpower is cheap in Nepal. There is pollution-free energy,' he said, 'Nepal is between a country with a large economy like India and China.'

Chairman of Nabil Bank Upendra Paudyal has said that he wants to see that the tax is put to good use from the point of view of taxpayers. He said that he wants to see that the taxes paid by industrialists have a good effect on the economy. The economy is good only if it can be spent on infrastructure. For that, it is necessary to increase the capital expenditure, he said.

Chairman of Nabil Bank Upendra Paudyal has said that the tax based on exorbitant calculation will not improve the investment environment. Stating that 1 billion 62 crores of effective tax was paid last year, he said that this will affect it in the long run. The banking sector has faced many challenges. Which agency is responsible for this? The government needs to be serious. In spite of that, looking at the situation of the previous year, we have paid 1 billion 62 ghost tax,'' said Paudyal, "If we understand with each sector, we don't have to pay ghost tax." But the government has raised such a tax. To bring foreign investment in Nepal. Where does the investment come from when applying the tax of ghostly calculation? Such decisions will not do well in the future.

Chairman of Nabil Bank, Upendra Paudyal, has said that he has paid 11 billion rupees in taxes to the government during the last 5 years. Stating that Nabil played a leading role in the tax owed to the government, he said that apart from the tax, he also paid about 10 billion TDS. I am proud to be a big tax payer. Nabil Bank has played a leading role in the matter of taxes,' the first session of Kantipur Economic Summit 2025 dialogue with the big tax payer: Speaking on expectations and experience, he said, 'When we started looking at the balance sheet of the private sector and giving loans, it was difficult to write profit on the balance sheet. Today, loss is seen in the balance sheet of the private sector. Tax has been paid accordingly. Speaking of Nabil, we have paid 11 billion in taxes in the last 5 years. By doing all this, we have paid taxes of 4 billion per year through Nabil Bank.

Jabbor Kayumov, the chief executive officer of Ncell, one of the biggest taxpayers in Nepal, has expressed his concern that the telecommunication sector here is being pushed towards a crisis.Speaking at the first session of the Kantipur Economic Summit 2025, 'Discussion with Big Taxpayers: Expectations and Experience', he termed the current situation of the telecommunication industry as 'alarming'. "Now there are only two telecommunication companies left in Nepal, Ncell and Nepal Telecom, while earlier there were many companies," he said, "this is a worrying issue." According to Kayumov, around 2010/2012, the telecommunication industry contributed 3.8 to 4 percent to the gross domestic product (GDP) in Nepal, but now it has decreased to 1.2 percent. "In India and Bangladesh, the telecom sector is still flourishing, but in Nepal, it seems to be going in the opposite direction," he said. He also said that there is an urgent need for dialogue between the government, regulatory bodies and telecommunication companies. "We don't have much time, the future is going to be digital and the telecommunication industry is its enabler," he said, "so this sector must be saved."