Kathmandu. The private sector has said that it will always cooperate with the government in the reconstruction, reconstruction and revival of the economy.

The representatives of the private sector made this commitment during a meeting with newly-appointed Finance Minister Rameshwor Khanal at the Finance Ministry on Tuesday. The government has also set up a fund for the reconstruction of the earthquake by assessing the damage caused during the recent agitation.

“We have suffered losses ourselves,” said Chandra Dhakal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). Dhakal also suggested the Finance Minister to create a continuous dialogue mechanism between the private sector and the government for restoring the economy and maintaining good governance, to ensure an environment in which the business community can do business with confidence and to remove the penalty and penalty by extending the time for tax payment.

The federation had demanded an extension of the deadline for submission of revenue statement by the 25th of Monday. Newly-appointed Finance Minister Khanal on Tuesday decided to extend the budget by a month. On the occasion, FNCCI senior vice-president Anjan Shrestha suggested that the private sector could also contribute from the amount under social responsibility.

During the discussion, they drew the attention of the government that Nepal is preparing to be upgraded from the least developed country in 2026 but in the absence of any preparation, the damage caused by the damage could create problems. Bangladesh, which has been facing similar problems, is trying to postpone the decision to upgrade because it will be deprived of trade facilities. If Nepal does not take a decision on this now, it will be too late. During the discussion, Chairman Dhakal urged the government to provide loan restructuring and re-scheduling facility to the agitating entrepreneurs and to provide exemption on income tax to attract investment. Stating that the younger generation wanted efficient government services, Dhakal urged all to take initiative to make the best use of information technology and carry out good conduct.

“In such a situation, it would be appropriate to reduce the VAT rate or lower the rate on consumer goods and announce a special package to attract Indian tourists,” he said. Tax exemptions, production-based relief and concessional loans for small and medium enterprises are needed, as well as the budget can be reviewed and used for reconstruction. Dhakal said.

Similarly, President of Confederation of Nepalese Industries (CNI), Birendra Pandey, said that in the present situation, the confidence of entrepreneurs should be strengthened and they are ready for the same. Nepal Chamber of Commerce (NCC) president Kamalesh Kumar Agrawal said the private sector has significant contribution to the country’s economy. Karan Chaudhary, president of NADA Automobile Association, said that despite the huge loss in the auto sector, all should work together to revive the auto sector.

Min Bahadur Gurung, proprietor of Bhatbhateni Supermarket, said that he was willing to continue investing, creating jobs and contributing to revenue. After the suggestions of entrepreneurs, Finance Minister Khanal said that the economy would be improved with the support of the private sector. He said that the government has also decided to extend the deadline for submitting the revenue details by a month as per the demand of the private sector. During the discussion, entrepreneurs drew the attention of Finance Minister Khanal that financial concessions including current capital loan guidelines could be suspended for at least two years.