Exporters urge govt to address their concerns

Exporters have suggested the government to make remarkable changes in export incentive, income tax and export duty in the new budget for an overall export promotion of the country. “Changes in the revised export cash incentive package, fifty per cent deduction in the income tax and zero duty for export based industry are the major three concerns the government should address in the upcoming budget,” said president of Garment Association – Nepal (GAN) Uday Raj Pandey. “Though the export incentive has been revised, it is not practical and will not encourage the export industry,” he said. According to him, government should allow three per cent incentive on flat to each exportable product for both country exporters and Indian exporters. Meanwhile, a team of export based industries expressed the need to encourage the overall export industry and said that the government should bring remarkable changes in the cash incentive facility. Pandey also asked government to reduce the income tax by 50 per cent for the exporters and facilitate them with zero duty facility. “We want these issues to be included in the budget with proper implementation plan,” Pandey said, adding that unless these issues are solved, the export industry can’t achieve the desired growth.