9 results for "Finance Ministry"
Nepal is quickly changing the way people pay, with QR codes becoming a familiar part of everyday life, from tea shops to larger businesses. Digital payments are growing rapidly, while cash remains important for many people. As Nepal moves toward a more connected financial system, the bigger challenge will be making digital payments safe, simple, and accessible to everyone.
The Cabinet has directed the Finance Ministry to prepare a Business Recovery Package for people and businesses affected by the Rasuwagadhi-Bhotekoshi flood, while the Prime Minister and all ministers will contribute one month’s salary to the disaster relief fund. The government also approved in principle the G2G purchase of 25,000 metric tons of DAP fertilizer from India.
The Nepal government has announced a 100% exemption from import taxes and duties on qualifying vehicles for officially recognized families of Gen Z movement martyrs and people classified as seriously or very seriously injured, if the vehicle is purchased for self-employment. The exemption applies to petrol or diesel vehicles with a transaction value of up to Rs 15 lakh and electric vehicles worth up to Rs 20 lakh, and is available only during FY 2083/84, or 2026/27.
Finance Minister Swarnim Wagle has called for amendments to the Nepal Rastra Bank Act to make the central bank more proactive and accountable, while supporting a seven member board, two deputy governors and wider expert representation.
Nepal Government is preparing to increase the VAT-free electricity consumption limit from 50 to 150 units. The proposal could benefit over 46 lakh households by reducing monthly electricity bills.
Finance Minister Dr. Swarnim Wagle has assured industrialists that the government is ready to review taxes and customs duties on raw materials and finished goods as part of a wider economic reform push.
Nepal’s Cabinet has withdrawn the three percent equity fees imposed on private education and healthcare services after strong public criticism that the charges would increase costs for students, parents and patients. Taxes collected after the measure took effect on July 17 will be refunded within 50 days, although the government has not yet publicly explained the detailed claim process.
Finance Minister Dr Swarnim Wagle has denied allegations of EV tax information leakage, saying he will quit public life if any misuse is proven as authorities investigate BYD vehicle imports and customs clearance.
Development Projects Still Moving Slowly as Government Uses Less Than 28% of Capital Budget Despite Flexible Spending Rules
