Revival Package for Bhotekoshi Flood-Affected Entrepreneurs Welcome: NADA
Kathmandu. NADA Automobiles Association of Nepal has welcomed the relief and relief package brought by the Government of Nepal for the revival of industries, trade and businesses affected by the Bhotekoshi floods.
The government has decided to provide customs and tax exemption, loan restructuring and rescheduling, concession in interest rates, provision of additional loans and ease of insurance claim payment targeting the flood-affected private sector. According to NADA, the provision of waiving customs duty while re-importing commercial vehicles and transport vehicles that were completely damaged or lost due to floods will be a significant relief to the automobile and transport entrepreneurs. Similarly, the decision to provide concessions on the re-import of damaged machinery and equipment and loan restructuring, rescheduling and interest subvention to flood-affected borrowers will reduce the financial pressure on entrepreneurs. NADA President Surendra Kumar Upreti said it was a positive move for the government to address tax, customs, loan, interest and insurance in an integrated way to restart the private sector after the disaster. He said, “The government’s integrated address of taxes, customs, credit, interest and insurance is a very positive step to help the private sector recover after the disaster. This will provide an important basis for the affected businesses to get back to business.” “
NADA has urged the concerned authorities to implement the government’s decision quickly, simply and effectively. It has also urged the government to study the actual damage and bring the second phase of the recovery package as per the need.
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