July 10, Biratnagar. The industrialists and workers of Morang, who have been agitating for adjustment of tax rates in three of the areas presented in the budget for the coming fiscal year, have said that Nepal will be weaker than Sri Lanka due to the state policy.
During a sit-in at the Inland Revenue Office in Biratnagar on Friday, Morang Trade Association president Navin Rijal said the country’s economy would be weaker than Sri Lanka’s if the state did not correct its policy.
Industrialists and workers of Morang have been protesting since Thursday demanding protection of steel industry based on sanitary pads, vegetable oil and MS wire. They have demanded protection of indigenous industries.
During his budget speech, Finance Minister Janardan Sharma had reduced the customs duty on sanitary pad imports from 15 percent to 90 percent and kept it at 1.5 percent. Customs duty on raw materials has been maintained at 7.5 percent even though it has been maintained at 1.5 percent. The industrialists have complained that the sanitary industry will be shut down due to the government’s policy.
The new system has also affected the steel industry based on GI wire.
He also complained that the indigenous vegetable oil industry was in crisis. The government has reduced the customs duty on refined oil to five percent in the fiscal year 2079-80. Earlier, customs duty of 10 percent was imposed on imports of crude oil and 15 percent on refined oil. There is a complaint of the industrialists that the new system will not be able to compete with the imported goods.
The industrialists have started agitation from Thursday demanding protection of industries based on sanitary pads, oil and GI wire.
The industrialists who staged a rally on Thursday staged a sit-in at the Inland Revenue Office on Friday. Chairman of the Morang Trade Association Rijal warned that if the demand is not addressed, there will be a traffic jam on Sunday.
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