Tax rate will not be changed arbitrarily: Finance Minister Pun

KATHMANDU: Finance Minister Barsha Man Pun has stated that there will not be an arbitrary alteration in the tax rate in the upcoming fiscal year's budget.   

During a pre-budget discussion on Sunday, Minister Pun articulated that the economy needs to be revitalised by putting an end to the economic slowdown. He further added that any modifications to the tax rate will be made keeping the national interests at the forefront, rather than serving other interests.

He affirmed that the tax rate will not be adjusted to benefit those in close proximity to his party and the government, including business firms. If there is a need to change the tax rate, it will be done with a transparent rationale, as per Minister Pun. 

He expressed the view that a finance minister's decisions should not undermine the investments made by the private sector over the years. He stated, "A finance minister should dutifully carry out the responsibilities entrusted by the people and the state." 

Moreover, Minister Pun underscored that the government is committed to fostering an open and transparent business policy, given that Nepal is adhering to a democratic, open, and competitive governance system.     

Similarly, Minister Pun highlighted that the government is optimistic that the private sector will participate in the journey towards development and prosperity. 

He pledged to rectify the legal and policy gaps and adopt the best practices in the field of economic development.  

Recognising that he was informed about the slowdown in the construction sector, Minister Pun assured that the government is taking measures to eliminate the obstacles that caused this slowdown. 
In addition, the Finance Minister disclosed that the current government is prepared to shoulder a liability of around Rs 600 billion from the past three or four years.