KATHMANDU: Minister for Finance, Bishnu Prasad Poudel, has said that the incumbent government has been working by internalising knowing the importance of private sector.

Receiving the recommendation submitted by the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) regarding the upcoming fiscal year’s budget, Finance Minister Poudel shared that the government was active in order to encourage the private sector.

He opined, “The government wants to know the difficulties of the private sector. It will address the challenges and issues raised by the private sector.”

The Finance Minister added that the government would move ahead for economic development of the country by making a strong collaboration with the private sector adding that the private sector would realize this in the new budget.

He said that the government was ready to provide support to the private sector and expressing the belief that the government would incorporate the suggestions of FNCCI.

FM Poudel said, “Let’s work with confidence. The government will extend its support. I as the finance Minister am ready to address your challenges.”

The FNCCI has urged the government to change the tax rate and ensure promptness in tax administration.

The FNCCI has demanded that the government exempt income tax in upto Rs 700,000 income per annum.

Likewise, the other demands of the FNCCI include protection and development of domestic industries, subsidy in customs rate in the imports of machines and their spare parts.

FNCCI President Shekhar Golchha said that he was hopeful of including the recommendations given to the government in the upcoming fiscal year’s budget.