Govt to start 'special' market monitoring from Tuesday

Published On: July 14, 2018 06:05 AM NPT By: Republica  | @RepublicaNepal

FNCCI asks its members to be alert

KATHMANDU, July 14: Nearly six months after coming to power, the KP Oli-led government is preparing to start a 'special' market monitoring targeting essential goods and services from Tuesday, the first day of the upcoming new fiscal year.

The government is preparing to keep a close eye on the operation of the market and the practices of issuing invoices and evading taxes and monitor the quality goods and services, setting alarm bells ringing in the private sector.

This type of market monitoring will be the first of its kind after the new government, which has a close to two-thirds majority, came to power in February. It is worth-noting here that the government's plan for the 'special market monitoring' comes after its 'failed attempts' at ending the transport syndicate, administering the contract management of infrastructure projects, and disciplining the I/NGOs, among others.

Santosh Bista, personal secretary of the Minister for Industry, Commerce and Supplies Matrika Yadav, said that the monitoring will be result-oriented and a practical approach.

"The monitoring will be in an integrated approach and the agencies including the Department of Supply Management and Protection of Consumers Interests, Department of Food Technology and Quality Control and local administration will also be involved in the monitoring,” added Bista.

According to a work-plan for the monitoring prepared by the ministry, the focus will be on the inspection of daily consumables goods and other essential services.

The government's monitoring plan has alerted the private sector. An executive committee meeting of the Federation of Nepalese Chamber of Commerce and Industry on Thursday discussed the matter and issued a press statement asking all its members to do business in a fair manner and also in a transparent way. “Following the discussion, we also issued an advisory to our members. We have asked them to issue invoices as per the real prices among others,” said Shekhar Golchha, senior vice-president of FNCCI.

A press statement issued by FNCCI on Thursday however advised its members to do business without fear.

This type of public appeal from a leading umbrella organization of the private sector has probably come for the first time. FNCCI and other private sector organization often start lobbying to protect the businesses which are monitored and found doing malpractices and cheating consumers.

Revenue Secretary at the Ministry of Finance, Shishir Kumar Dhungana said monitoring is a regular activity carried out by the government and there is nothing to fear about it. “We will also be secretly monitoring revenue leakage,” saidDhungana.

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