-  Thursday 01 October 2020

Finance Ordinance draws mixed reactions

KATHMANDU, Jan 14 - Economists and businessmen expressed mixed reaction over the Finance Ordinance 2006 announced by Minister of State for Finance Dr Roop Jyoti on Saturday. Excerpts:
Dr Dilli Raj Khanal, economist

The way in which the custom duties are deducted shows that it is aimed at fulfilling the vested interest of certain business groups. The Ordinance will increase third country imports and encourage smuggling to India as practiced in the Panchayat era.

Rajendra Khetan, vice-president, CNI

The Ordinance should not have cut the customs duties on those products produced in Nepal.

Diwakar Golchha, first-vice president, FNCCI

It is a positive attempt to bring in unofficial trade under the purview of tax by reducing  customs duties.

Surendra Bir Malakar, acting president, NCC

The government must unveil an effective measure to check illegal trade, if any benefits are to be reaped from customs duties reduction.

Akhil Chapagain, president, Nepal Overseas Export and Import Association

The reduction in customs duties will help control revenue leakage. This will also make goods cheaper.


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