Kathmandu — A delegation from the NADA Automobiles Association of Nepal, led by its President Karan Chaudhary, met with Finance Minister Rameshwor Khanal to discuss the country’s current economic challenges and issues facing the automobile sector.
During the meeting, Chaudhary stressed that ensuring peace, security, and law and order is the government’s foremost responsibility. He urged the government to adopt policies that restore confidence among entrepreneurs and compensate businesses for damages caused during recent unrest.
He highlighted that the newly enforced “Nepal Vehicle Emission Standard 2082” has increased vehicle prices and reminded officials that the automobile sector alone contributes 27 percent of total customs revenue. Chaudhary also pointed out that Nepal has yet to create a fully reliable environment for investors and called on the government to take concrete steps to revitalize the sluggish automobile market.
NADA presented a 22-point set of recommendations to the minister. Among them was a demand to increase the loan-to-value ratio for hire purchase loans on petrol and diesel vehicles from the current 60 percent to 80 percent.
Finance Ministry Secretary Ghanshyam Upadhyay informed that the government is working to resolve the obstruction at the Tatopani customs route caused by road damage. He also assured that a relief and incentive package for businesses would soon be introduced, and discussions would be held with the Ministry of Forests and Environment regarding the impact of the emission standards.
Minister Khanal acknowledged the severe losses suffered by the automobile sector due to recent unrest. He committed to seriously reviewing the demands put forward, collecting data on damages, and taking appropriate measures. He also promised to move forward with additional facilities from banks and financial institutions, tax reforms, and other necessary policy initiatives, while maintaining regular dialogue with business representatives.
The delegation included NADA Vice President Nirakar Shrestha, General Secretary Bikram Singh Saniya, Treasurer Milan Babu Malla, Joint Treasurer Pankaj Agrawal, and executive members Akash Golchha, Prakash Kapuri, Meghraj Poudel, Yamuna Shrestha, and Abhik Jyoti, among others.