Domestic entrepreneurship, production will be promoted: Finance Minister

KATHMANDU: Finance Minister Barsha Man Pun has stated that domestic entrepreneurship and production will be safeguarded and promoted while implementing a new-phase economic reform plan.

During discussions on the Finance Bill, 2081 BS, Minister Pun emphasised its objectives: accelerating economic activities, encouraging investment, expanding the tax base, and establishing a robust and systematic tax framework.

Minister Pun also clarified that the Customs Tariff Bill for 2081 BS was introduced separately in line with global practices. The government's focus is on promoting capital investment rather than relying on loans to fund development.

Regarding electric vehicles (EVs), the government encourages their use to reduce fossil fuel consumption. Contrary to misconceptions, the tax on vehicle imports was adjusted slightly upward. This decision was made considering the potential loss of billions of rupees in revenue from vehicle imports.

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