Kathmandu. Finance Minister Rameshwor Prasad Khanal has emphasized that a dynamic capital market and realty market are essential for a robust national economy. Speaking at a discussion program organized by the Nepal Chamber of Commerce on “Contemporary Issues of Economy” on Sunday, Minister Khanal highlighted the importance of government-private sector coordination to spur production and create jobs.
During the discussion, Minister Khanal said the government was internally reviewing whether an ordinance is needed to remove barriers in the realty market. He acknowledged that it is impossible for the government to meet all private sector demands immediately, adding that demands will be addressed gradually through collaboration. “Togetherness of the private sector and government helps create an industrial atmosphere and promotes production,” he said.
The Finance Minister also noted the economic impact of the September 8-9 Gen Z protest, which caused massive damage across 514 local levels in 55 districts, resulting in an estimated Rs 36 billion loss to the private sector and Rs 78.51 billion combined loss for both private and public sectors. Of this, the private sector has claimed Rs 23 billion insurance. He stressed that restoring trust between government and private sector is crucial for economic recovery.
Minister Khanal further highlighted government initiatives including customs system reforms, job creation, production expansion, and investment environment improvements. He warned that stringent actions would be taken against those involved in black marketing, excessive price hikes, and monopoly practices.
On the occasion, Nepal Chamber of Commerce Chairman Kamalesh Kumar Agrawal urged the government to ensure a safe and investment-friendly atmosphere to boost investor confidence. He called for easier online tax submission and customs clearance, adjustment of customs rates, and revisions in the Income Tax Act. Other demands included clarity on house rent tax jurisdiction, formation of a tax clearance/settlement commission, speedy establishment of an asset management company, and action against traders issuing fake invoices.
Former Chamber Chairman Rajesh Kaji Shrestha also demanded the government scrap the Revenue Investigation Department and curb cross-border smuggling to support industrial growth.
The program highlighted the ongoing dialogue between government and private sector as pivotal to creating a trust-based, production-driven economic environment in Nepal.
