Department of Customs to Implement Seventh Customs Reform Plan from Fiscal Year 2083-84

Kathmandu. The Department of Customs is set to formulate and implement the seventh customs reform plan starting from the upcoming fiscal year 2083-84. As the sixth five-year customs reform plan is nearing completion in the current fiscal year, the department has initiated preparations for a new strategic plan.

Speaking at an interaction program with industrialists and business people, Director General of the Department of Customs, Shyam Prasad Bhandari, stated that work on drafting the new customs plan is underway. According to him, the main objective of the upcoming plan will be focused on building a 'production-oriented economy'.

According to Director General Bhandari, the seventh reform plan will prioritize the review of customs rates and trade facilitation. With preparations for the new plan and the upcoming budget ongoing, the department expects concrete suggestions from the private sector. Informing that a subcommittee under the Revenue Advisory Committee, coordinated by the Director General of the Department of Customs, is working on this, Bhandari urged for suggestions to be provided before the subcommittee meeting scheduled for Friday.

He emphasized that the private sector should take advantage of the current political and policy stability in the country. He stated that with a stable government and parliament in place, this is an opportune time to make customs administration industry-friendly and to establish long-term policies.