Country needs to shift focus from trade to production, says Secretary Ghimire

By A Staff Reporter,Kathmandu, Jan. 26: Revenue Secretary at the Ministry of Finance Dr. Ram Prasad Ghimire has stressed on the need for moving from a trade-oriented economy to a production-oriented one for the sustainability of the national economy.

“Currently, our economy is based on trade, especially imports, which is not helpful in the long run for the country’s economy. So, we have to focus on increasing production and exports. The government is ready to facilitate it,” he said while addressing a function organised by Nepal Chamber of Commerce (NCC) on the occasion of 72nd International Customs Day Wednesday.

Stating that the signs of improvement have been seen in the economy recently, he said that the businessmen should focus on production enhancement by increasing their investment.

He said that the government has been reforming customs administration and improving infrastructure to facilitate the trade.

He asked the NCC to provide suggestions regarding customs incorporating the problems faced in customs by small as well as big traders.

On the occasion, director general of the Department of Customs Shovakanta Poudel said that the Department has been reforming the customs administration based on the suggestions given by the businessmen and as per the international standards.

He expressed his commitment to take up the suggestions made by the private sector to make the customs administration sound and scientific.

NCC president Rajendra Malla said that trade should be facilitated so as to promote exports and discourage imports.

He emphasised that the transaction value should be recognised in customs evaluation rather than the reference value.

According to Malla, revenue mobilisation will improve only if the customs administration is improved.

He said, “Customs procedures should be facilitated and high-level quarantine measures should be managed in all customs.”

Malla emphasised that exportable items should be identified and promoted to reduce trade deficit.

He said that due to Nepal's open borders, smuggling is increasing so the customs administration should be vigilant to control it.

He said that the revenue target should be met by widening the tax net instead of increasing tax rates.

On the occasion, the NCC honoured director of the Department of Customs Harihar Paudel. The Chamber honored director Paudel recognising his service in the Department of Customs.

The Chamber has been honouring one of the best employees of the Department of Customs every year.