Finance Minister Pun Vows Transparent Tax Rate Setting for Next Fiscal Year's Budget

Finance Minister Barshaman Pun has pledged to uphold transparency in determining revenue rates for the budget statement of the upcoming fiscal year 2024/25. Speaking at an interaction program on 'revenue consultations and budget preparation,' jointly organized by the Ministry of Finance and the Birgunj Chamber of Commerce and Industry, Minister Pun addressed concerns regarding fluctuating tax rates in previous years. He assured that the forthcoming budget statement would include clear explanations and justifications for any changes in tax rates to avoid controversies.

Minister Pun emphasized his commitment to maintaining impartiality in tax and revenue adjustments, emphasizing that changes would not be made to favor specific individuals or industries. He expressed determination to set clear thresholds and operate accordingly to minimize disputes over tax rates. Furthermore, Minister Pun pledged his support for establishing Birgunj as a 'financial hub' in response to demands from local industrialists and businesspersons, echoing the federal government's backing for Birgunj's development as an industrial city.

Highlighting recent declarations such as Pokhara's designation as the tourism capital, Minister Pun underscored the positive significance of Birgunj's aspirations to become a financial hub. He affirmed the federal government's readiness to support Birgunj's transformation, pending proposals from Birgunj Metropolitan City and the Madhes Province. Minister Pun outlined plans to elevate Birgunj to a special economic zone, emphasizing the government's commitment to align its initiatives with the aspirations of the people. He urged politicians, business leaders, civil society, and bureaucrats to collaborate toward national development, reaffirming the government's commitment to formulating policies safeguarding the industrial sector.