NAFTA welcomes amendments to Black Market Act, other laws through ordinances

KATHMANDU: Nepal Foreign Trade Association (NAFTA) has welcomed the long-pending amendments to the Black Market Act and other laws through ordinances. 

The association issued a statement on Tuesday and expressed confidence that the government's latest move will help boost investment in the country and create a more business-friendly environment.

"Timely and scientific laws and regulations are indispensable for creating a business-friendly environment and boosting investment," NAFTA's statement said. The association urged the government to implement the amendments effectively and promptly address pending regulations.

NAFTA believes that the amendments will reduce the contraction in market demand, boost the declining morale of businesspersons, and send a positive message to investors. "We urge that the regulations and procedures be amended as per the latest amendment to the Act and that the pending regulations and procedures be prepared as soon as possible to create an environment for the implementation of business-friendly laws and regulations," the statement said.

NAFTA has also urged the government to pass the Customs Bill, 2080, which is under discussion in Parliament, and implemented to address the concerns of entrepreneurs and businesspersons.

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