Need to emphasize on customs policies to strengthen internal production economy: Minister Khanal

By Ajay Chhetri, Kathmandu, Jan 26: Minister of Finance Rameshore Prasad Khanal said that there is a need to focus on strengthening domestic production while designing the customs policy. 

Speaking at a programme organised today on the occasion of 74th International Custom Day at the Department of Customs, Minister Khanal said that the main aspiration of the Gen-z revolt was the transformation from the import consumption-based economy  to the robust internal production and consumption driven economy.

He further added that the tariff policy should be amicable to the production-based industry. The customs duties determined by customs policy should not curtail the competitiveness of domestic production sector. 

He also informed that the government will soon introduce the new customs regulations for the full implementation of the newly formulated customs acts to facilitate the trade for the the private sector .   

The President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, cautioned that prioritizing the customs based revenue might impact the industrialization. He stated that government must focus on the formulation of policy to strengthening industrialization.