Kathmandu, 11 May: Finance Minister Bishnu Prasad Paudel has assured that the government is committed to resolving the challenges faced by industrialists and entrepreneurs in the country.
Speaking at a pre-budget discussion organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in Kathmandu on Sunday, Minister Paudel said that the government is well aware of the difficulties facing the private sector and is working in collaboration with it to find practical solutions.
He stated that the government has focused on revitalizing the sluggish economy and has introduced necessary laws to support this goal.
To further address the concerns of the private sector, a high-level Economic Reforms Suggestion Commission has been formed, and the government is moving forward based on its recommendations, he added.
“The government is committed to gradually implementing the commission’s suggestions and solving the economic problems through the upcoming budget and legal reforms,” Poudel said.
FNCCI President Chandra Dhakal, speaking at the event, welcomed the government’s positive stance on private sector promotion. He said the private sector is hopeful that the new budget will include incentives to boost investment.
Dhakal recommended that the budget prioritize reducing recurrent expenditure, increasing development spending, and enhancing the purchasing power of the general public along with the productivity of businesses.
He also proposed that the government declare 2025-35 as an “Investment Decade” to ensure economic stability and attract long-term investment.
To make the economy more dynamic, Dhakal suggested a mechanism to provide up to Rs 10 million in project loans without collateral, with shared risk coverage from entrepreneurs, the Credit Guarantee Corporation, the government, and development partners.
Additionally, the Federation has urged the government to extend the current tax exemption facilities for startup industries by another five years.
Comments