KATHMANDU: Finance Minister Barsha Man Pun has reiterated the government’s commitment to providing unwavering support to the private sector, assuring that no measures will be taken to discourage private enterprises. Addressing discussions at the Ministry to gather input from representatives of banks and the finance sector for the upcoming fiscal year’s budget, Minister Pun urged […]
Finance Minister Barsaman Pun has said that some ‘bold’ decisions have to be made to encourage the private sector. While consulting with economists regarding the budget for the next fiscal year 2024/25 on Thursday, Minister Pun said that a decision would be taken to raise the morale of the private sector, which is in distraught state. He said that due to the limitations in governm
KATHMANDU: Finance Minister Janardan Sharma has underscored the need to boost government-private sector cooperation so that economic development could be realized. “Significant portion of national economy is sustained by private sector. Government is only the facilitator. Seventy percent of entire economy hinges on private sectors,” he reminded. According to him, government was committed to creating […]
KATHMANDU, July 14: The government has granted the permission to the Ministry of Health and Population to spend Rs five billion for the procurement of COVID-19 vaccines. Newly appointed Finance Minister Janardan Sharma took a decision to this effect shortly after assuming his office.
The new government formed under the leadership of Nepali Congress President Sher Bahadur Deuba on Tuesday announced to ensure COVID-19 vaccines to the all eligible citizens as its very first decision in the office.
The government has a target of administering the vaccines against coronavirus to one third of population by coming mid-October and to all eligible people by mid-April.
The COVID-19 inoculation drive has been affected in the absence of the sufficient supplies of the vaccines. The Cabinet meeting held on Tuesday evening agreed to provide risk allowance to front liners (health workers, security personnel , cleaners and so on )during the pandemic within a week.
The new Finance Minister took decision relating to the guarantee of resources for liability management under COVID-19 control and prevention. Under this, Rs. 564.157 million will be transferred for the federal hospital and Rs. 373.49 million will be transferred for the hospitals run by the province governments and local levels through the Province Ministry of Social Development.
A decision has been taken to allocate Rs. 961.21 million to federal and private hospitals and Rs. 524.44 million to state and local level hospitals through the Ministry of Social Development for the procurement of health equipment including HDU, ventilator, ICU to enhance the COVID-19 response capacity of government and private hospitals, according to Ministry spokesperson Mahesh Acharya.
After assuming the office, Minister Sharma said that control and prevention of the pandemic and free-COVID-19 vaccines to all were the priorities of the government and urged the employees to work for the same with dedication.
As he said, to revive the nation’s economy hit hard by the pandemic is the need of the hour and the government is ready to cooperate with the private sector towards that end.
He said that economic policy capable of addressing the issues of poor, backward and marginalized people was the need of the time. Before assuming office, Finance Minister Sharma had laid a wreath at the Martyrs' Pillar at the CPN (Maoist Center)’s party headquarters, Parisdanda.
KATHMANDU, June 1: The Nepal National Entrepreneurs Federation (NNEF) has said the budget for fiscal year 2021/22 has addressed the demands of the private sector.
Federation president Naresh Katuwal, through a press release on Monday, said the statement of estimated income and expenditure for fiscal year 2021/22 has tried to incorporate the demands of the private sector to large extent. Finance Minister Bishnu Poudel presented the budget on May 29.
"Although the budget is overall good, its implementation aspect is very challenging. The government should give special attention for the implementation of the budget," Katuwal said.
The Federation stated that provisions as the waiver of renewal or permit tariff payable in the next fiscal year of entrepreneurs affected by the COVID-19 pandemic, providing to the hotel and tourism sector facilities at a par with the production industry, removal of the VAT in travel and trekking package are the positive aspects of the budget.
Similarly, it is a positive aspect of the budget to exempt the renewal fees and to provide concession on the income tax of COVID-19 hardest-hit 2.9 million small, cottage and micro enterprises.
The NNEF has demanded that the monetary policy for the next fiscal year to be introduced by the Nepal Rastra Bank should also facilitate more the provisions contained in the budget so as to address the all types of enterprises and industries affected by the COVID-19 pandemic.
Finance Minister Bishnu Prasad Paudel has said that the support of the private sector is necessary to control the irregularities in customs.
The post FinMin seeks private sector’s support appeared first on The Himalayan Times.
.jpg)
