Photo: TRN Nepal Chamber of Commerce (NCC) delegation submitting suggestions and policy recommendations for the upcoming budget to Finance Minister Dr. Swarnim Wagle.
By A Staff Reporter, Kathmandu, Apr. 29: The Nepal Chamber of Commerce has submitted suggestions to Finance Minister Dr. Swarnim Wagle in regard to the budget for the upcoming fiscal year 2026/27.
A delegation led by NCC President Kamlesh Kumar Agrawal met the Minister on Monday and presented policy recommendations aimed at making the overall economy more dynamic.
The NCC said that budget should be private sector-friendly, production-oriented, and investment-promoting, and urged priority for economic stability, good governance, and a business-friendly environment.
It submitted its views covering agriculture, tourism, industry, information technology, energy, foreign investment, export promotion, and tax system reforms.
The NCC suggested for modernisation, concessional loans, and expansion of market access for the promotion of agriculture sector.
In tourism, it emphasised infrastructure development and international promotion. For industry, it recommended reducing production costs and simplifying procedures.
The NCC called for tax exemptions and expansion of digital infrastructure in IT sector, while in energy, it stressed promoting private investment and accelerating hydropower development.
It also suggested simplifying the tax system by introducing a single-window mechanism, promoting exports, and encouraging “Made in Nepal” products.
The Chamber emphasised prioritising agriculture in the upcoming budget through modernisation and mechanization, and recommended policies for utilising barren land, leasing arrangements, and facilitating investment for agricultural production.
It further suggested adopting a policy of providing export subsidies based on value addition and ensuring a simple and streamlined system for exporters under a single-window mechanism.
It also recommended promoting domestic investment by utilizing the skills and expertise of returnee migrant workers, including maintaining a comprehensive record of their skills and profiles at the Department of Immigration.
The NCC suggested formulating policies to channel remittances into productive sectors such as energy and infrastructure.
The Chamber stressed implementing a unified tax system across all three tiers of government and eliminating double taxation.
It also called for abolishing reference pricing in customs valuation in line with World Trade Organisation valuation standards, and until such reforms are implemented, allowing invoice value for certain imported goods.
On the occasion, Finance Minister Dr. Wagle said that the government has already taken various economic reform initiatives.
He said that the Department of Revenue Investigation has been abolished and plans are in place to reduce tax rates, emphasising the need to increase revenue, create employment, and expand the size of the economy.
Minister Dr. Wagle said the government is moving ahead with liberal policies to create an enabling environment for all stakeholders and assured that the upcoming budget will encourage both businesses and citizens.
He also expressed commitment to incorporating constructive suggestions from the private sector into the budget formulation process.
The Rising Nepal
