Mahabir Pun Urges Prioritization of Research and Innovation for Industrial Development

Kathmandu. Member of Parliament Mahabir Pun has demanded that the government prioritize research and innovation for the country's industrial development and economic prosperity.

Participating in the discussion on the principles and priorities of the Appropriation Bill, he emphasized that the state should provide concessions on the import of raw materials rather than luxury goods and finished products. 

MP Pun commented that Nepal's current tax policy is not industry-friendly. Sharing his experience of operating an agricultural tools factory in Birgunj, he stated that it is a paradoxical situation where tax is not levied on the import of finished agricultural tools, but heavy customs duty has to be paid on the import of raw materials necessary for domestic production.

He drew the government's attention to the lack of a systematic 'Patent Office' in Nepal for the protection of intellectual property. He demanded that the government provide subsidies as Nepali inventors are compelled to go abroad to register their creations, and the process of registering patents internationally is expensive.

Similarly, he mentioned that new entrepreneurs and inventors should be provided with tax exemptions in the initial phase to encourage them. During the discussion, he said, 'When raw materials are heavily taxed, domestic products become expensive, due to which our industries cannot compete. Developed countries do not tax raw materials; Nepal should also adopt this policy.'

He suggested that research work should not be limited to just one financial year and should be brought within the scope of multi-year plans and budgets. Stating that the country cannot become self-reliant without the development of domestic talent and technology, he urged that these issues be concretely addressed in the upcoming budget.