Tax burden on private sector should be reduced gradually: NPC Vice-Chair Poudel

KATHMANDU: Vice-Chairman of the National Planning Commission Dr. Biswo Nath Poudel said that the competitiveness of Nepali industry should be enhanced by giving opportunity to the private sector to produce goods cheaply.

At a event organized by the Confederation of Nepalese Industries (CNI), NPC Vice-Chair Poudel mentioned that the government should subsidize entrepreneurs to ensure that production cost of goods is low. “Entrepreneurs cannot ensure competitiveness of goods if they cannot produce goods at low cost. The government should help in building an open competitive market and ensure proper doing business environment,” said Poudel.

Furthermore, Poudel said that NPC will move forward to reduce taxes on the private sector, seek for long-term sources of revenue and reduce government spending.

Similarly, Poudel also said that the country cannot achieve high economic growth rate without uplifting the productive sector. He noted that the government would facilitate entrepreneurs in minimizing the risks of doing business in Nepal.

On the occasion, CNI President Vishnu Kumar Agrawal said that a productive economy should be the base to achieve double digit economic growth. Agrawal also informed that the confederation has launched the Make in Nepal Indigenous Campaign which would lay the foundation of industrial development and productive economy in Nepal.

Fiscal Nepal |
Wednesday August 11, 2021, 12:52:48 PM |

Leave a Reply

Your email address will not be published. Required fields are marked *