Nepal | May 25, 2020

Pvt sector seeks legal system to channelise political donations

Himalayan News Service
Share Now:

Interview with Hari Bhakta Sharma, the President of Confederation of Nepalese Industries, at Hattisar in Kathmandu, on Sunday, February 12, 2017. Photo: Balkrishna Thapa Chhetri/THT

Kathmandu, May 8

Private sector has urged the government to introduce a system to properly channelise donation collection during the election period.

Citing that political parties participating in the upcoming local election have been collecting donations from the private industries in an unmanaged way, private sector representatives have said that the government should introduce a legal system to collect donations for the election.

“The Income Tax Act of Nepal has stated that industries should not donate more than Rs 100,000 in a year. However, local industries have been compelled to pay donations in excess of the legal limit to political parties and their local candidates,” Hari Bhakta Sharma, president of Confederation of Nepalese Industries, said. As there are large number of political parties and their local candidates for the local election, industries across the country are facing a hard time, according to Sharma.

Sharma suggested the government to properly channelise donation collection during election and allow industries to provide donations through cheque. “Legalising donations and allowing such contribution through cheques will help keep track of expenditure of industries and will also allow industries to include their expenditure in donation in the annual balance sheet of industries,” he added.

Allowing donations to be incorporated as ‘expenditure’ in annual balance sheet of industries would provide relief to industries while paying taxes to the government.

Industrialists have also suggested the government to create a ‘basket fund’ to collect donations for political parties. “Like in foreign countries, industries will contribute a certain per cent of their income in the basket fund. This fund can be utilised to give donations to political parties on the basis of votes they acquire in the election,” added Sharma.

Meanwhile, an official at the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said that collection of donations from industries is one of the major factors that will promote corruption in the country.

“If I donate to one political party, it means that that party is obliged to be loyal to me if and when the party wins the election,” the FNCCI official said, further opining that the government should itself give funds to political parties during elections and should also restrict political parties from collecting donations from private industries.


A version of this article appears in print on May 09, 2017 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

19 new cases confirmed on Sunday, nationwide COVID-19 count reaches 603

KATHMANDU: Nineteen new cases of COVID-19 have been confirmed by the Ministry of Health and Population, today, taking the nationwide tally to 603. The infections were confirmed through tests carried out at Provincial Public Health Laboratory, Biratnagar, Provincial Public Health Laboratory, Bhair Read More...

NKorea's Kim vows to further bolster nuclear war deterrence: KCNA

SEOUL: North Korean leader Kim Jong Un hosted a military meeting to discuss new policies to bolster the country's nuclear capabilities amid stalled denuclearisation talks with the United States, state media KCNA said on Sunday. The meeting of the ruling Workers' Party's powerful Central Milit Read More...

COVID-19 positive flees Janakpur Provincial Hospital

JANAKPURDHAM: A COVID-19 positive person fled the Temporary Coronavirus Special Unit of the Provincial Hospital, Janakpurdham in Dhanusha district on Saturday night. The 45-year-old person housed in a single room of the isolation ward fled the hospital by breaking the room's window, informed Kuld Read More...

NAC's fourth chartered flight to Japan scheduled for tonight

KATHMANDU: Nepal Airlines Corporation (NAC) is operating its fourth chartered flight to Japan to send back Japanese nationals stranded in Nepal and other Nepali passengers, tonight. The flight chartered by the Japanese Embassy in Kathmandu is scheduled to take off at 9:00 pm. The NA’s wide b Read More...

Vatican Museums

Vatican Museums, Holy See's cash cow, to reopen from June 1

VATICAN CITY: The Vatican Museums will reopen on June 1, the Vatican said on Saturday, ending a closure caused by the coronavirus lockdown that has drained the Holy See's coffers. A statement said the Museums, which house some of the world's greatest Renaissance masterpieces as well as ancient Ro Read More...

Major Indian states seek delay in restarting flights as coronavirus cases rise

MUMBAI/NEW DELHI: Three large Indian states have sought to delay the planned opening of their airports on Monday as new cases of the novel coronavirus jumped by a record, complicating the federal government’s plan to resume flights after a two-month lockdown. India registered 6,767 new cases of Read More...

Two recovered patients re-test positive for Covid-19

BIRGUNJ: Two people that had recently been discharged after staying under observation at the Birgunj-based Narayani Hospital on being diagnosed with COVID-19, have tested positive for the infection again. Both the patients were discharged following recovery, yesterday. According to Ministry of He Read More...

Western Australia braces for worst storm in a decade

MELBOURNE: Western Australia battened down for its worst storm in 10 years on Sunday as the remnants of a tropical cyclone met a cold front with heavy rains and storm surges expected across the state's coast, officials said on Sunday. Winds gusting up to 210km per hour (130 miles per hour), wer Read More...