. Finance Minister Rameshwor Khanal has implemented a bold policy on customs reform.

{{TAG_OPEN_p_11} Khanal has implemented the transaction price with self-declaration for the private sector entrepreneurs from Biratnagar, the old trade border point of Nepal.

This will remove the old reference value charged by the customs. Private sector entrepreneurs have been demanding that the transaction value should be maintained.

Khanal said that Genji’s demand is not only for the public bodies but also for the private, community and cooperative sector to follow the ethical conduct as demanded by the social media and end corrupt practices.TAG_OPEN_p_9

For the first time in the history of customs administration, he announced that the electronic system of customs valuation and clearance on self-declaration basis has been started from the Biratnagar border point for the representatives of the private sector and businessmen.TAG_OPEN_p_8

According to Finance Minister Khanal, this will reduce the cost of business, zero unwanted transactions and help businessmen to be honest.TAG_OPEN_p_7 He said that this system would be implemented in all customs offices in the near future if the entrepreneurs support to make this system implemented at Biratnagar border point a success.

}The system will operate an “electronic risk engine” to control the risk of revenue leakage, and it will stop the harassment of trucks on the highway.