No dual taxation in federal system: PM Dahal

KATHMANDU, April 10: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said there would not be any sort of dual taxation on the movement of goods, services and capital within the country in the federal system.

Addressing the 51st annual general meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Monday, PM Dahal said, “The internal market should be made contiguous with provisions that there would not be any kind of dual taxation in the flow of goods, services and capital within the country in the federal setup in order to increase the competitive capacity of the country.”

The Prime Minister gave assurances that the government would be conscious towards making arrangements that there would not be any dual taxation at the different levels of government in the federal system and towards reducing the procedural hassles that the industrialists and businessmen are likely to face at two or more levels due to the allocation of responsibilities.

He stated that industrial climate was being gradually created in the country as the load-shedding has been phased out through an effective management of the available power in the country for the promotion of industries and businesses and for the convenience of the general public.

The Prime Minister maintioned that the Industrial Enterprises Act and the laws related to special economic zones have been legislated, the Bank and Financial Institutions Act has been passed for strengthening the financial sector, the projects of national pride have been expedited, the sick industries have been reinstated and many works including removing the administrative obstacles have been carried out by the government under his leadership.

Stating that the production sector has not been able to have the expected impact in expanding the export of goods, and there were signs that the service sector was growing in the urban areas, PM Dahal stressed that the service sector alone has become successful in maintaining a balance in the economic development activities.

He clarified that the economic prosperity was possible if investment was increased in agriculture, forest and energy sector by adopting new technologies.

In another note, he urged all to support the local poll as it was going to be held after 19 years.
On the occasion, PM Dahal honoured Nepal Rastra Bank former governor Himalaya Shamsher Rana, tourism entrepreneur Karna Shakya, Kailash Sirohiya from Information Communication sector, Birendra Bahadur Basnet (air service), Nakim Uddin (entertainment), Bhadra Raj Pandey (information technology), Prof Dr Suresh Raj Sharma (education), Dr Sanduk Ruit (health), Anuradha Koirala (social service), Kulman Ghising (social sector), late Ram Lal Ji Golchha (production) and late Laxman Babu Shrestha (service) with the ‘FNCCI Gold Award Trend Setters’.
Similarly, former FNCCI presidents Mahesh Lal Pradhan, Binod Chaudhary, Padma Jyoti, Ananda Raj Mulmi, Pradip Kumar Shrestha, Rabi Bhakta Shrestha, Chandiraj Dhakal, Kush Kumar Joshi, Suraj Baidya and Pradip Jung Pandey were also feted in the programme.

On the occasion, Yagya Bahadur KC, journalist Sanjay Neupane (posthumously) and officials of the FNCCI who had completed 25 years service in the institution were also feted.

Addressing the program, FNCCI president Pashupati Murarka stressed on working together by the government and private sector to promote domestic productions.

Similarly, senior vice president of the FNCCI Bhawani Rana said that Nepal was fertile land for investment.