May 10, Kathmandu - The Nepal Industry Federation has called on the government to craft a budget for the upcoming fiscal year that facilitates ease of industry expansion and increased investment. During a meeting with Finance Minister Dr. Swarnim Wagle at his office, federation leadership, including President Birendra Raj Pandey, emphasized the importance of a budget that positions the private sector as a catalyst for development.

They recommended a budget that promotes income and asset creation, with a focus on economic expansion, employment generation, and investment growth. The federation suggested sector-specific budget proposals covering areas such as industry, foreign investment, tax policies, customs, tourism, agriculture, energy, ICT, banking, insurance, cooperatives, domestic production, infrastructure, health, education, and anti-corruption measures.

Key priorities include policy reforms to ensure industry stability for at least ten years, development of competitive industrial strategies centered on employment, production, and import substitution. They also urged simplifying and clarifying the tax system, reducing income tax rates, implementing risk-based audits, and strengthening digital tax administration.

Furthermore, they proposed policies to attract private investment in large infrastructure projects, relax land restrictions for approved industries, and establish clear policies for settling outstanding government payments and debts with industries. The federation stressed that private sector investment is essential for development and called for legal and tax reforms to support asset creation and economic growth.

Finance Minister Wagle acknowledged the private sector’s vital role in development, emphasizing the need for legal and tax system improvements and increased private investment in infrastructure.