Chitwan, April 15

Finance Minister Yubaraj Khatiwada today said the government was working to make the country’s tax system dynamic.

Speaking at a pre-budget interaction organised by the government, Confederation of Nepalese Industries, Province 3, Gandaki Province and Province 5 in Bharatpur, Khatiwada urged entrepreneurs to move ahead with a sense of oneness. Noting that many problems related to entrepreneurs and industrialists were being resolved, Khatiwada assured that the government was doing its best to resolve other problems. “Many laws and acts have been made while others are being formulated. All the problems will be resolved soon,” he added.

With regard to the issue of security in industries, Khatiwada said the government was mulling the formation of an industrial security force to provide security to industries. “Industries will remain secure and safe once the government forms the industrial force,” he assured.

Khatiwada stated that the government wanted to work hand-in-hand with the private sector. “The government wants the private sector to contribute 55 per cent investment in five years,” he noted.

Stating that banks and financial institutions lacked loanable money, Khatiwada said the government was working towards bringing stability in the interest rate so that banks would not

experience liquidity crisis. He made it clear that his ministry was not in favour of handing massive grants to the banks.

Khatiwada said the government was exercising to ensure that Nepal would not be a dumping site for cheap and sub-standard goods imported from outside the country.