Govt positive on voluntary disclosure of property

KATHMANDU, July 9 :

The government has responded positively to the demand of the private sector for giving business houses one last opportunity for voluntary disclosure of property.

Speaking at the 60th Annual General Meeting of Nepal Chamber of Commerce (NCC) in Kathmandu on Wednesday, Finance Minister Ram Sharan Mahat said he agrees with the demand of the private sector for providing them voluntary disclosure opportunity. “But we need to make separate laws and regulation for this. The government will toward drafting the necessary laws,” he assured the private sector. Mahat also said he would hold discussion with the private sector before drafting the law.

The finance minister said the government would get different laws related to the financial sector endorsed from the parliament in the ongoing session. He also claimed that investment environment in the country has improved after the formation of the new government. Mahat also urged the private sector to invest on infrastructures.

Speaking at the program, Pradip Jung Pandey, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said the private sector has been making fresh investments despite severe energy crisis. “We are facing power shortage for more than 12 hours a day. Despite this, we are sparing no effort to graduate the country to the league of developing countries by 2022,” he added. He also said private sector can make significant contribution to national economy is energy crisis is addressed.

“We have failed to invest even 56 percent of the total capital expenditure of Rs 85 billion. The government should do the needful for increasing capital expenditure,” Pandey said, adding that the private sector was ready to support the government in increasing capital expenditure.

Similarly, Constituent Assembly (CA) Chairman Subash Chandra Nembang said the government shouldn´t take donation from the private sector. “In order to eliminate the existing tendency of taking donation from the private sector, the government should provide budget to political parties on the basis of votes received,” he added.

The private sector has urged the government to provide seeds, fertilizers and irrigation equipment on grants to encourage commercial farming in the country.

Source: Republica