House of Representatives Approves Proposal for Amendment of Nepal Acts to Improve Economic and Business Environment

The House of Representatives in Kathmandu approved a proposal today to consider a bill aimed at amending Nepal Acts related to the improvement of the economic and business environment as well as the promotion of investment. The proposal, presented by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, received majority approval.

During the discussion on the bill, Deputy Prime Minister Paudel assured lawmakers that the government believes the bill will enhance the economic and business environment in the country. He emphasized the importance of adopting truth over baseless accusations and reiterated the government’s commitment to revenue generation.

Some lawmakers raised concerns during the discussion, with Madhav Sapkota of the CPN (Maoist Centre) pointing out provisions in the bill that could provide tax exemptions to large-scale commercial businesses. He suggested a focus on domestic capital alongside foreign investment.

Other lawmakers, such as Bimala Subedi of the CPN (Maoist Centre) and Dr. Prakash Sharan Mahat of the Nepali Congress, also shared their perspectives on the bill, emphasizing the need to liberalize investment and involve the general public in economic growth.

The House of Representatives will reconvene tomorrow at 11:00 am to continue discussions on the bill. Stay tuned for further updates on this important legislative development.
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