HEADLINE NEWS THE RISING NEPAL (DAILY)

Amendments in tax system
National Assembly okays Appropriation Bill- 2058

BY A SATAFF REPORTER

Kathamandu, Oct. 2: The meeting of the National Assembly today unanimously approved the Appropriation Bill-2058 (budget of the fiscal year 2058/59). The House of the Representatives had already passed the Bill some days back.

Finance Minister Dr. Ram Saran Mahat, while replying the queries of the MPs, said that the government would soon release Financial regulations with wider reforms to check irregularities and leakage in the development projects, tenders, allotment of rations for police and army.

Dr. Mahat said that the government had made timely amendments in the existing tax system to revitalize the sick industrious. The changes in the tax system have been made by taking consensus from among industrialists and entrepreneurs of the country, he added.

The current fiscal year's budget aims to build a macro economic structure and further consolidate the achievements made in the nation's financial sector last year, he said.

Focused towards the direction of reforms, the budget encompasses measures to ensure industrial security, improve environment for investment, increase agriculture production and productivity and promote additional investment in the sector of information and technology, thereby increasing the opportunities of employment and minimizing the slackening in the economy of the country, Dr. Mahat told the elders who had raised questions regarding the budget.

The Finance Minister said that the budget had not included those projects, which the resource could not sustain and had abolished the unnecessary projects to reduce needles expenses.

He denied the MPs' arguments that the budget had not included the programmes that generate the opportunities of employment and help alleviate poverty. "The budget targets poverty alleviation by centering all social and economic activities towards it," emphasized the Finance Minister, adding, the budget introduces the programmes for commercialization of agriculture and forest, promote investment in industry and services, export and information technology, which ultimately enhance the private sector investment in the country.

Dr. Mahat further noted that the government had launched the programmes that cut interest of agriculture debt, set up Poverty Alleviation Fund and the Commission for Generating Employment and training programme in IT sector.

Due to the increase of salary, pensions, and Provident Fund of civil servants, police personnel, army, teachers, professors, increase of budget for security, in the payment of principle and Dr. Mahat.

In a move to cut the regular expenditure, interest, the government has faced challenges to control the regular expenditure, elaborated the government has reduced the number of employees, annulled the unnecessary offices and vacant posts and started recruitment of civil servants on contract basis.

He said the government had allocated 10.39 per cent of total budget and 20.92 per cent of the regular budget for the home and defense administration and said this allocation could not be called insufficient as some MPs had claimed.

He said the loss of public enterprises had reached to Rs 746.7 million and attributed the huge loss to the weakness in management, the increase of salary and other facilities of employees which the institutions could not bear, failure to produce the qualitative goods and service.

He said that as per the government's economic liberalisation and privatisation policy, the government has promoted the involvement of private sector in the public enterprises.

Meanwhile, RSS adds:MP Arvinda Kumar Thakur of Nepali Congress, seeking time from the chairman of the National Assembly at its meeting today, called on one and all to show faith and trust to peace by coming in unison towards the commitment expressed by the Prime Minister at the present moment when the world community is raising a voice to contain terrorism following the horrific attack in the USA.

Mr. Thakur accused Radio Nepal of suppressing the voices of the National Assembly's legislators and drew the attention of the government to this issue.

Bisheshwara Dahal of CPN-UML asked why the Bill on Equal Rights of Women to the parental property has not yet been introduced in the House and demanded the bill be passed by the ongoing parliamentary session.

MP Mohan Raj Sharma Chapagain suggested that attention should be given to the employees attending the meeting of the House for its smooth functioning.

Ramchandra Bhattarai of CPN-UML said the report presented by the auditor general reflect the precarious economic condition with huge financial irregularities of about Rs 72 billion and asked the government to inform the House of what measures is being taken by the government to curb such irregularities.

Ganga Datta Joshi criticised electronic media for airing only speeches of the ministers with visual shots and asked if there was a conspiracy not to air the voices of others though they are worthy of being aired.

A mechanism should be developed to provide facilities to the legislators for purchasing vehicles free of interest by mortgaging their property.

Gaura Koirala of the CPN-UML, speaking at the special hour of the National Assembly today, stressed the need to implement the convention relating to children’s rights as the children were suffering from malnutrition and being deprived of their constitutional rights.

MP Mohan Raj Sharma said that an ideological movement was necessary in the country.

Mohan Bahadur Bom of the CPN-UML, referring to the pitiable condition of the roads in Dadeldhura district, said that the Doti-Acham road should be blacktopped.

Devendra Ghimire of the CPN-UML said that the sacred institution of judiciary should not be centre of corruption. The judiciary should express its views within the framework of the constitution, he added.

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