NADA Delegation Meets with Hon'ble Finance Minister Janardan Sharma

An 8-member NADA delegation led by NADA's Vice-President Karan Chaudhary recently met with Hon'ble Finance Minister Janardan Sharma to discuss in detail the impact of the replacement budget of 2078/79 on the automobile sector.During the discussion, Vice-Chairman Chaudhary made a clear provision of exemption of excise duty on the import of vehicles under the assembled condition 87.02 87.03 and 87.11 and 50 per cent exemption on excise duty on the sale of manufactured goods produced by such industries. Stating that NADA has welcomed the move, he said that the government should clearly categorize the parts to be assembled.During the discussion, Chaudhary urged the government to bring a similar policy for the import and production of quality lubricants in Nepal and said that the government should encourage businesses to stop the import of unauthorized spare parts. Similarly, he added said that there should be stability in the policy for the promotion of local industry and business, adding that the government should take NADA as a major stakeholder in formulating such a policy.During the discussion, Hon'ble Finance Minister Sharma said that the government has given high priority to the upliftment of industry in Nepal and policies have been brought accordingly. He said that this would not only create more employment but also create skilled manpower, increase investment and production. He added that the government was going to form a tax review commission to solve the problems of the industry and business sector, and the government would address any weaknesses.NADA Secretary Anup Baral, Central Working Committee Member Deepak Agrawal, Raju Chhetri from MAW Enterprises Pvt. Ltd. and Sugam Ghimire from SLR Techno Trade Pvt. Ltd. were also present at the discussion.