Monday, January 30, 2023

We will discuss on the issue of classifying vehicles as luxury item: FM Poudel

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Kathmandu, 24 January (2023) - Deputy Prime Minister and Finance Minister, Bishnu Poudel, has said discussion would be held on the issue of categorizing vehicles as the luxury item in course of preparing budget for the coming fiscal year.

Finance Minister Poudel shared that discussion would be held by calling NADA officials in course of preparing budget.

A team under the leadership of NADA Chair Dhruba Thapa today briefed the Finance Minister about the impacts of Nepal Rastra Bank's strict in auto mobile sector. 

During the meeting, Chair Thapa said decision of lifting the mandatory provision of cash margin while opening LT on import and the ban on imports after eight months was welcome.  

This decision of the government has made positive impacts on business including automobile, he shared, adding there is a situation to entrepreneurs to shut down their business due to some policies of Nepal Rastra Bank. 

The delegation shared that there should be some amendment in some points of Current Capital Loan related Directives as they are impractical. 

Similarly, NADA General-Secretary Surendra Kumar Upreti laid emphasis on the need of facilitating trade with India and attracting Indian investment. 

He urged the Finance Minister for the establishment of an exhibition centre of international standard in Kathmandu Valley.

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