NAIMA Urges Finance Minister for Policy Reforms in Automobile Sector

Kathmandu. The Nepal Automobile Importers and Manufacturers Association (NAIMA) has demanded the continuation of a hire-purchase arrangement allowing up to 80 percent financing and a 20 percent down payment for vehicle purchases.

This demand was presented during a meeting between a NAIMA delegation led by President Ritu Singh Vaidya and Finance Minister Dr. Swarnim Wagle. NAIMA emphasized that such financial accessibility is crucial for the sector.

NAIMA informed the Finance Minister of the need for a stable, predictable policy environment developed through stakeholder consultation, stressing that the automobile sector should be recognized as a necessity rather than a luxury.

Furthermore, the association called for a reduction in the overall tax burden and the simplification of the tax structure. They highlighted that inconsistent interpretations during audits after customs clearance create business uncertainty, necessitating a clear, uniform, and transparent system.

NAIMA also raised issues regarding customs facilitation, testing infrastructure development, review of the Transport Act, digital system integration, road safety, pollution control, promotion of assembly industries under 'Make in Nepal,' and long-term policy stability.

The association pointed out the need for clear, stable, and incentive-based policies for electric vehicles. Additionally, they emphasized the importance of proper classification for hybrid vehicles to ensure balanced and fair policy arrangements based on their technological features.

Finance Minister Wagle praised NAIMA for presenting consolidated issues from importers and manufacturers, noting that the suggestions were highly relevant and emphasized the need for continuous dialogue between the ministry and the association.

Similarly, the NAIMA delegation also met with the Minister of Physical Infrastructure and Transport, Sunil Lamsal, to discuss contemporary issues in the mobility and automobile sector.