Kathmandu. Finance Minister Swarnim Wagle has said that the economy could not move ahead without encouraging the private sector, adding that the government has adopted a policy of creating investment-friendly environment and expanding economic activities through reforms in tax system. Speaking at a discussion and dialogue on favorable investment-friendly environment and contemporary issues of economy for expanding economic and business activities, Minister Wagle said that various tax and policy reform programmes have been introduced to encourage the private sector. <\/p>\n
“We have talked a lot about the economic and political philosophy of our party that the economy cannot move ahead without encouraging the private sector,” he said. No one is lobbying for it, not by asking. Let’s be open, pay taxes, be proud citizens. We have moved towards the principle of increasing revenue by reducing the rate so that the state can also be filled. We have introduced various tax and policy reform programs with the objective of encouraging the private sector. \u2019<\/p>\n
Pointing out the need to revise the limit of income tax, he said that the tax structure which has not changed for a long time should be reformed. Stating that arrears of more than one trillion rupees have piled up due to various fees, fees, fines and interest, he said arrangements have been made to provide relief to the entrepreneurs. <\/p>\n
On the occasion, Minister Wagle said that arrangements have been made to waive the remaining fees and fines after paying the fixed amount of tax and expressed the belief that this would help the entrepreneurs to make a new beginning. According to him, the government has brought this provision as an initiative of self-improvement and not on the basis of demand of the private sector. <\/p>\n
“It’s been so many years, 10 lakh is not even Rs 1 lakh per month,” he said. Let’s make it free of monthly tax. More than Rs 1 trillion in arrears have been suppressed. In the beginning, the tax was a little smaller, from there you have been sitting idle with fees, fees, additional fees, fines, interest. You may have filed a lawsuit, but it may take years to settle. To start a new venture, you have to either create another identity or go abroad. It’s not what you asked for, it’s what we gave it. Take a big risk and pay the initial tax, pay our processing fee for one year, and get less clean and start again. \u2019<\/p>\n
Stating that there was no need to wait for budget for economic reform, he said reform works could be forwarded through policy-level decisions from the Council of Ministers and the Ministry of Finance. <\/p>\n
On the occasion, Minister Wagle claimed that although the government did not get enough time to prepare the budget, industrialists and entrepreneur-friendly policy has been adopted. He said the government has attempted to put an end to this double standard, saying there was a tendency to seek support in practice by showing negative view towards the private sector in the past. <\/p>\n
“We don’t have to wait for the budget for everything,” he said. We can also take policy decisions from the cabinet. We can also do it from the Ministry of Finance. That’s how we keep reforming. This first year, we didn’t have a lot of time. We came in the middle of March, we could not work hard for more than three to four weeks as we had to bring the budget in the middle of May. But we can confidently say that after 2048 B. S., we have abandoned the double standard towards entrepreneurs and businessmen in such a liberal way, shifting the whole paradigm. Earlier, it was said that socialism was oriented in speeches and papers. The private sector has been criticized as a class that has taken all the undesirable benefits. Again, he has taken help from them to run his politics. We have thrown away all the double standards, the hypocracy. We have done it to say what it is. \u2019<\/p>\n
Accepting the private sector as an important partner of the economy, the government is trying to create an environment conducive for openly operating business, developing a culture of paying taxes and increasing accountability towards the state.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Finance Minister Swarnim Wagle has said that the economy could not move ahead without encouraging the private sector, adding that the government has adopted a policy of creating investment-friendly environment and expanding economic activities through reforms in tax system. Speaking at a discussion and dialogue on favorable investment-friendly environment and contemporary issues of economyContinue reading “Let’s do business freely, pay taxes with pride: Finance Minister”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":69757,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[105,147],"tags":[],"class_list":["post-74027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-breaking-en","category-samachar-en"],"acf":[],"jetpack_featured_media_url":"https:\/\/arthakhabar.com\/wp-content\/uploads\/2026\/03\/sornim-wagle-2.jpg","_links":{"self":[{"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/posts\/74027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/comments?post=74027"}],"version-history":[{"count":1,"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/posts\/74027\/revisions"}],"predecessor-version":[{"id":74028,"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/posts\/74027\/revisions\/74028"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/media\/69757"}],"wp:attachment":[{"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/media?parent=74027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/categories?post=74027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arthakhabar.com\/ak_api\/wp\/v2\/tags?post=74027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}