Boost consumption of domestic products: Minister Khanal
Summary
Finance Minister Rameshore Prasad Khanal emphasized boosting domestic product consumption to replace imports and highlighted ongoing customs reforms to enhance trade facilitation in Nepal.
Key Points
- Finance Minister Rameshore Prasad Khanal urged increasing domestic product consumption to reduce foreign imports.
- He emphasized the need for clear policies promoting domestic products and effective enforcement of the Customs Act.
- A new Customs Reform and Modernization Strategy is being developed to improve trade facilitation and revenue collection.
- The old Customs Valuation Reference Booklet has been scrapped to reduce trade costs and increase transparency across Nepalese customs offices.
