ECoN urges govt to extend lifeline to export sector
Kathmandu, September 30:
The government must draw up concrete policies for Export Trading Houses to rescue export sector from its current, Export Council of Nepal (ECoN) urged.
The new budget has neglected Export Trading Houses, major foreign currency earners supporting the national economy, it said. According to an ECoN press release, though the government allowed discounts on tax in special fields, waived customs charges and revoked 1.5 per cent special fee provision in exports, the budget had no package for export promotion.
“It overlooked certain things that should have been included. Income tax for exporters was neither revised nor minimised and special amount allotment for export promotion was also not given. Unlike the case of other foreign currency earning export items, the budget gave no facility though people related to handicrafts and Nepali readymade garments were expecting a package,” said ECoN. It also pointed out that without requisite focus on export promotion losses would not be recovered.