NADA Representatives Discuss Automotive Sector Challenges with Finance Minister Dr. Swarnim Wagle

Kathmandu. The NADA Automobiles Association of Nepal has held discussions with Finance Minister Dr. Swarnim Wagle regarding contemporary issues in the automotive sector. 

A delegation led by NADA President Surendra Kumar Upreti met with Minister Wagle at the Ministry of Finance on Sunday to apprise him of sector-specific problems and potential reform measures.

During the meeting, Finance Minister Wagle stated that the government's primary focus is on revenue collection, and it is considering expanding the tax base by reducing tax rates. He assured the implementation of private-sector-friendly policies and emphasized the government's commitment to eliminating irregularities and investing heavily in road construction. He also indicated that he would hold further discussions with NADA regarding the upcoming budget.

NADA President Upreti stated that new policies and regulations are needed to uplift Nepal's automotive sector. He demanded exemptions on raw materials imported for the automotive industry. 'Items like tires, tubes, batteries, and helmets are being produced within Nepal, but businesses are facing problems due to the government's lack of equipment to measure their quality,' Upreti said. He also submitted a 36-point written suggestion to the Minister on behalf of NADA.

During the discussion, NADA's immediate past president, Karan Chaudhary, pointed out the significant potential for the automotive component industry in Nepal. Similarly, distinguished advisor Rajan Babu Shrestha suggested the need for a stable policy to promote electric vehicles and urged stricter measures to curb smuggling in border areas.

Vice President Bikram Singhania stated that the government should pay special attention to encouraging domestic industries. The discussion was also attended by NADA Vice Presidents Abhik Jyoti, General Secretary Milan Babu Malla, Treasurer Pankaj Agrawal, and Joint Treasurer Nilmani Pathak.

The business representatives asserted that a vibrant automotive sector would increase government revenue and create employment opportunities.