Saturday, 28 September, 2024
logo
NATION

   Proposals on two bills endorsed   



proposals-on-two-bills-endorsed

Kathmandu, June 19 : A session of National Assembly today accepted proposals on two bills received from the House of Representatives (HoR) with messages.    
Finance Minister Dr Yuba Raj Khatiwada presented the proposals seeking considerations over the ''Bill on Mobilisation of National Loans-2077 BS'' and '' Loan and Guarantee (24th amendment) Bill-2077 BS' in the meeting and the documents were entertained by the meeting unanimously.    
Nepali Congress lawmaker Jeetendra Narayan Dev took part in the discussion on theoretical aspects of the bills.    
In his response to queries over the Bills raised during the deliberations, the Finance Minister briefed the Assembly about the government plan of increasing production and mobilisation of internal loan.    
The NA shall meet again at 1:00 pm of June 22.    
Private sector to be promoted    
The Finance Minister pledged to take private sector into confidence in its efforts for reviving the economy affected by COVID-19 crisis.    
During discussion, in today's session, about the 'Finance Bill-2077 BS' obtained from the House of Representatives, the Minister said our post-earthquake experiences ( rebuild and reconstruction) could be useful in tackling the post- COVID crisis. ''But we still have some good aspects of economy amidst this COVID-10 health crisis. The relations broke up in the labor market will be re-harmonised and supplies chain will be made accessible. Import is gradually improving. We are coming up with loan and tax concession provisions by taking private sector into confidence. We need support and cooperation for all to realise the goal of making economy self-sufficient.''    
The development of economy depends on the duration of coronavirus crisis and the government steps there to deal with the crisis, according to the Minister. He apprised the session about the details of projections of revenue, customs, excise duty, other taxes and non-taxes for the upcoming fiscal year.    
 The government has set a target of revenue collection of Rs 100.1 billion and the Bill proposed to receive 29.9 percent of it through the VAT. During the discussion, NC lawmaker Dev questioned about government plans to make the economy dynamic and self-sufficient. The proposal table d seeking consideration of the Bill was accepted by a majority.