Birgunj industrialists encouraged from new budget

Birgunj (Parsa). The business leaders and industrialists in Birgunj have shared their positive responses to the upcoming fiscal year’s budget saying that the new budget was encouraging to open new industries in the country.

Unveiling the annual budget for the FY 2082/83 BS in the joint meeting of the Federal Parliament on Thursday, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has announced to waive rental fees for first three years to run new industries in the special economic zones and industrial estates targeting the new licensed companies.

The finance minister said, ‘The rental fees of per square meter will be slashed to Rs 5 from Rs 20 per month in special economic zone and the industries from the industrial estates would be given facilities equal to that of the special economic zones if they exported more than 30 per cent of their total productions. Chairman of Birgunj Chamber of Commerce and Industries Hari Gautam said the new budget has made efforts to boost up confidence of the private sector.

‘The budget is not as we expected. But, attempts have been made to address some of the demands of industrialists and business community, Gautam said. According to Gautam, the decision to scrap the advance income tax levied on customs was a positive move. Likewise, he said that the government decision to keep the tax rate unchanged on electronic vehicles should be taken positively.

Also commenting on the budget, economist Dipendra Kumar Chaudhary said that the budget has placed the private sector as a driving force for the nation’s prosperity, which is a positive move. The provisions of one stop services for company registration and exit would offer additional support to uplift the private sector, Chaudhary added. The budget has stated that the Amlekhgunj-Lothar petroleum pipeline expansion and construction of fuel storage would be advanced in the new fiscal year.