The Morang Trade Association has submitted its recommendations to Deputy Prime Minister and Finance Minister Bishnu Poudel, outlining various issues related to the industrial and business sector in the context of the upcoming fiscal year’s budget to be presented by the Ministry of Finance.

A delegation comprising Rakesh Surana, President of the Morang Trade Association; Anupam Rathi, President of the Morang Chamber of Industry and Commerce; and Bijay Shrestha, President of the Sunsari Chamber of Industry and Commerce, on Wednesday urged the Finance Minister to seriously consider the challenges faced by the industrial and business sector and to address the submitted recommendations in the upcoming budget.

During the discussion, Morang President Rakesh Surana emphasized that the industrial and business sector is still facing 6 to 8 hours of load shedding. He urged the government to expand investment in infrastructure such as transmission lines and to focus all investments on reservoir-based hydropower projects. To build an environment of trust, he stressed that the state should ensure timely payment of dues such as tax exemptions, export subsidies, and other incentives owed to industrialists and entrepreneurs. Surana also highlighted the need to maintain policy stability, regulate open borders, and introduce clear laws for the regulation and management of credit-based transactions.

Highlighting that logistics costs account for more than 30 percent of the total trade expenses, President Surana urged for the revision of the handling charges of the Biratnagar cargo railway-considered a game-changer for the Koshi Province-and called for its prompt operation.

During the discussion, President Surana pointed out that there is currently a three-tier difference in customs duty rates between raw materials and finished products for some industries, while for others, the difference is only one-tier. He requested that a uniform rate structure be applied to all types of industries. Morang Association President Rathi urged the Finance Minister to formulate the upcoming budget in a way that addresses the current economic slowdown and prevailing sense of pessimism.

Source: Kantipur