NCC asks govt. to increase capital expenditure

KATHMANDU, MARCH 19: The Nepal Chamber of Commerce (NCC) has urged Finance Minister Barsha Man Pun to ensure policy provisions to create employment and increase production by making higher capital expenditure. A team of the NCC led by its President Rajendra Malla met Finance Minister Pun yesterday and called for policy provisions to increase production and create more employment by improving the state of capital expenditure to bring back the country’s economy on the right track.

The NCC has asked the Finance Minister to scrap the reference pricing in the customs for the import of goods give recognition to the transaction pricing and also establish a high-quality quarantine lab at the customs point. Issuing a press statement, the NCC has said the new fiscal year’s budget should prioritize making the economy more dynamic and expanding economic activities.

During the meeting, President Malla argued that youth would get employment at home if multinational companies were attracted to the field of information technology. In response, Finance Minister Pun said the government has taken the policy to keep the private sector’s morale high and take the private sector in confidence. On the occasion, Minister Pun said there would be no act from the government to terrorize the private sector and shared that fiscal crimes would be addressed by making separate laws.