Biratnagar industrialists demand policy stability, relief from costly electricity

Industrialists and businesspeople in Biratnagar have demanded policy stability and the removal of value-added tax levied on electricity tariffs.

The Morang Chamber of Commerce and Industry and the Industrial Association Morang held separate discussions on Monday with Rahabar Ansari, chairperson of the House of Representatives' Industry, Commerce, Labour and Consumer Welfare Protection Committee.

Industrial Association Morang chairperson Nandkishor Rathi said VAT on electricity tariffs should be scrapped to reduce production costs. He urged that priority be given to developing industrial infrastructure and that industry-friendly policies be introduced to attract new investment.

Morang Chamber of Commerce and Industry's outgoing chairperson Anupam Rathi said policy must be stable and predictable to win investors' confidence. According to him, it is a matter of concern that investment has not grown even when business loans are available at around 5 percent interest.

Chamber chairperson Anil Kumar Shah raised the issue of maximum retail price labelling on all goods. Industrialists demanded cost-cutting policies to make Nepali products competitive with goods from neighbouring countries.

They said policy reforms are needed to restart closed industries and increase exports. Chairperson Ansari said he would study the industrialists' suggestions and problems.

He said it is the government's duty to protect even a single industry that is operating. He said the government is ready to move forward together with the private sector to strengthen the economy.