Kathmandu. Surendra Upreti, president of NADA Automobiles Association, said that the government should maintain policy stability for the development of automobile sector by not making changes in tax rate repeatedly.

Stating that the automobile sector contributes more than Rs 90 billion annually to the country’s economy, he said that the change in tax policy will cause problems for businessmen and investors. He said that the government should adopt stable and predictable policies to create conducive environment for investment.

President Uprety said that the automobile assembly industry has already started in Nepal and attention should be paid to the development of the component industry. According to him, production of necessary spare parts within the country will create more employment opportunities as well as contribute to import substitution.

He also stressed the need of an exhibition space for internationalization in Nepal. He said that along with the expansion of automobile sector, infrastructures should be developed to organize international level exhibitions and programs.

He urged the government to take necessary initiatives for policy stability, infrastructure development and investment-friendly environment for the private sector.