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Govt not to scan sources of investments into productive sectors

Prime Minister Pushpa Kamal Dahal has on Wednesday assured the industrialists and entrepreneurs that government will not seek sources of income for investments made in labor-intensive industries like hydropower, physical infrastructure and other productive ventures.

PM Dahal made the promise to the effect during his meeting with a delegation from the private sector. The representatives of the private sector demanded the government not to scan sources of money that have already been poured into various avenues of the economy.

The private sector had been bemoaning that the decision of the government to dig out sources for undisclosed income had adversely affected the investment climate and discouraged investors.

It should be noted that the government has made it clear that it will not spare investments made in real estate, the housing business and commission agencies.

The government has launched the voluntary declaration of income scheme (VDIS), in its budgetary programmes, to facilitate the concerned people to legalize their property through payment of 10 percent tax

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and other business associations have claimed that their differences with the government over VDIS have ended with the latest commitment on the part of PM Dahal. nepalnews.com Mar 12 09