Kathmandu, May 2
As the government expedites preparations for the next annual budget, businesspersons have demanded that the government reduce tax rates. However, Finance Minister Janardan Sharma has asked them not to nag about the rates.
The umbrella organisation of Nepali private sectors, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), organised a meeting with Minister Sharma to express its expectations from the budget.
But, Sharma apparently did not entertain the suggestions. Hence, he advised them to not get annoyed with tax rates and to focus on increasing production instead.
Nonetheless, the minister said the government was ready to do the needful if their productions became costly due to high taxes.
In another context, Sharma said he is discussing the interruptions in power supplies to industries with Prime Minister Sher Bahadur Deuba.
Constitutionally, the government needs to announce the annual budget plan for the next fiscal year, beginning mid-July, on May 28/29 (Nepali date Jeth 15) every year.