FNCCI urges govt to align budget with high-level commission’s suggestions
KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the government to formulate budget in line with recommendations of the High-Level Economic Reforms Recommendation Commission.
Speaking at an interaction programme on budget and revenue policy, organised by the Revenue Advisory Committee of the Ministry of Finance in Rupandehi on Saturday, FNCCI President Chandra Prasad Dhakal stated that adopting the commission’s suggestions would help address various economic challenges.
Dhakal said the budget should focus on people-centric development, current needs and priorities, and the enhancement of production and employment.
He mentioned that while the government has prioritised revenue collection, key issues such as job creation, production growth, and import substitution have been overlooked.
"In our import-based economy, customs rates are high. Nepal’s open border with India has encouraged smuggling. The tax base should be expanded rather than increasing tax rates. The state should prioritise production for import substitution and facilitate the export of mineral-based goods," Dhakal said.
He also urged the government to take measures to resume internal remittance transactions, which have been inactive for the past two years. He highlighted that this disruption has impacted the general public, including small businesses, schools, colleges, and hospitals, making it difficult for them to access the small amounts of money they need.
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