Speaking at the meeting of Revenue Advisory Committee (RAC) on Tuesday, Koirala stressed the need to make timely reforms in revenue sector which is the base of the national economy.[break]
“We will announce full-fledged budget for coming fiscal year in time,” Koirala said, adding that budget would try to create investment friendly environment in the country.
Dr Chiranjibi Nepal, chief economic advisor at the finance ministry, assured that the upcoming budget will strengthen relation between the government and the private sector.
“Be optimistic, but don´t expect much from this budget,” said Nepal.
Finance Secretary Shanta Raj Subedi emphasized the need to speed up reforms in revenue administration.
Rajan Khanal, coordinator of RAC, who is also the joint secretary at the MoF, said RAC has received hosts of suggestions ranging from providing incentives on exports, tax incentives for hydropower projects and widening of revenue net to prioritizing merger of banks and financial institutions (BFIs).
Speaking on the occasion, Narendra Basnyat, president of Confederation of Nepalese Industries (CNI) and Bashkar Raj Rajkarnikar, senior vice president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) sought different incentives for different business enterprises.
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