SANN News
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has submitted its recommendations for the government’s Policy and Programmes for the upcoming fiscal year 2025/26. The FNCCI emphasized the need for the government to ensure the formulation and implementation of necessary regulations, with a focus on effective execution and policy reforms. The Federation proposed maximizing the use of technology in business processes, such as registration, renewal, tax payment, and deregistration, and suggested providing all business services through an online platform.
FNCCI also proposed making the government service system more efficient through the adoption of the’smart’ service concept and a separate policy to encourage foreign investment. To increase foreign investment, a special investment campaign should be launched, and the Office of the Investment Board and the Department of Industries should be merged and restructured.
FNCCI also stressed the need for a streamlined process for investors, ensuring they don’t have to visit multiple offices after submitting necessary documents. The FNCCI also recommended reviewing and postponing the current capital loan guidelines introduced by Nepal Rastra Bank for at least two years.
FNCCI also called for an immediate policy to promote Nepali agricultural products and the export of water to Gulf countries, proposing cold storage, X-ray machines, and warehouse facilities at airports. FNCCI also recommended a gradual reduction in taxes by five percent over the next five years to promote manufacturing industries, decrease income tax rates, and increase the tax exemption limit to further support economic growth.
