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Kathmandu Thursday October 12, 2000 Aswin 26, 2057.
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Minister
Acharya vows to reform tax system
Post Report
MORANG, Oct 11 - Minister for
Finance and Defense Mahesh Acharya has said that the government is all set to reform the
existing tax system in a bid to accelerate revenue collection.
Minister Acharya who recently
took over the charge of Defense has stressed on the need to introduce new tools in the
entire tax system to widen the government's revenue base.
Addressing a gathering of
textile committee formed by textile entrepreneurs to protect the interests of textile
industries here today, Acharya said that the government is committed to implement
necessary reform measures in business sector to cope with the emerging challenges in the
world market.
"Since the economic
condition of the common people has not improved even after a decade of restoration of
democracy, there is an urgent to boost development activities along with increasing
development expenditures for which the government will also take stock of minimizing
regular expenses, Acharya said.
Minister Acharya reiterated that
the government is committed to ensure sustainable economic growth. In the past also, the
government has introduced policy changes, he added.. He also said that the government
would not hesitate to take strong decisions to sustain economic growth.
Speaking at the same function,
Shankar Lal Rathi, President of Biratnagar Textile Committee, criticized the government's
inability to control smuggling textile trade from neighbouring countries. This has pushed
the domestic textile industry a step back compared with the competing economies, Rathi
said.
Domestic textile industry has
now reached on the verge of collapse, he said.
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