CPN-UML listens to views of businessmen on budget

Kathmandu, June 17 (RSS):CPN-UML organised a programme involving industrialists and businessmen to discuss the pros and cons of the budget for the current fiscal year.

The provision in the budget which requires bank guarantee for exporting goods and the provision for a new tax are quite discouraging, said the businessmen and industrialists, adding the inflow of foreign manufactured goods has threatened the existence of domestic industries.

No programme has been announced for improving the condition of ailing industries and multinational companies are discouraged to invest in Nepal due to deteriorating law and order situation, they said.

The taxation system is likely to increase corruption and hassles, they said and stressed the need to create a parliamentary committee on industry promotion, make revenue system more practical and check smuggling.

Those expressing their views at the programme were FNCCI president Pradip Kumar Shrestha, vice president Ravi Bhakta Shrestha, industrialists Chiranjibi Agrawal, Mahesh Kumar Agrawal, Mahesh Lal Pradhan, Hulas Chand Golchha, Mohan Gopal Khetan, Laxmi Nath Manandhar and Pradip Vaidya.

At the programme, CPN-UML general secretary Madhav Nepal said CPN-UML always supports an industrial policy which helps strengthen the country's economy.

CPN-UML standing committee member Bharat Mohan Adhikari shed light on the objective of the programme.

Meanwhile, at an interaction programme was organised by the civil awareness and Social Study Centre on the budget of the fiscal year 2057/58 here recently.

VAT action

Meanwhile in Lalitpur, the VAT Office here has fined five commercial firms for tax evasion following surprise inspections.

The firms fined are Skyline Suppliers (fined Rs 83,509), Rainbow Foods (Rs l36,3l9), Spectom International (Rs 53,467), Patan Hardware Centre (Rs l2,082) and Dibya Collection (Rs 5,000).

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