Kathmandu. Nepal Chamber of Commerce has presented 101-point suggestions to the government regarding the budget for the upcoming fiscal year. During a program organized at Singha Durbar on Monday, Nepal Chamber of Commerce President Kamlesh Kumar Agrawal presented 101-point suggestions to Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel.
On the occasion, President Agrawal said that the government should formulate the budget by keeping agriculture, tourism, energy sector development, employment creation, business and industrial investment environment and production growth as top priorities.
He stressed that the Nepal Chamber of Commerce is of the opinion that the government should formulate the budget by keeping these as its top priorities. He said that they demand that a work plan with a time-bound schedule be prepared for timely capital expenditure and that it be reviewed every quarter.
The Chamber of Commerce has demanded that a realistic budget be brought based on policy stability, actual tax and revenue resource mobilization, and committed foreign aid to meet the government’s fiscal year targets.
Similarly, the Chamber of Commerce has demanded that the government encourage local resource-based mineral, gemstone, agricultural, herbal, and forest-based industries and manage their exports, and bring the Revenue Investigation Department and the Money Laundering Department under the Ministry of Finance in coordination with the Customs and Inland Revenue Departments.
He said, ‘The Nepal Chamber of Commerce is of the opinion that the upcoming budget should be prepared by prioritizing the development of agriculture, tourism, energy sectors, employment creation, business and industrial investment environment and production growth as important foundations of prosperity. A work plan with a time-bound schedule should be prepared for timely capital expenditure and it should be reviewed every quarter, a realistic budget should be brought based on policy stability, actual tax and revenue resource mobilization and committed foreign aid to meet the government’s fiscal year goals, export management should be managed by encouraging local resource-based mineral, gemstone, agricultural, herbal and forest industries, and the Department of Revenue Investigation and the Department of Asset Purification should be brought under the Ministry of Finance in coordination with the Customs and Internal Revenue Departments, which will solve the problems there.’
The Chamber of Commerce has suggested to the government to encourage domestic investment to utilize the skills and expertise of those returning from foreign employment.
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