Kathmandu, May 29: The government has announced that it would slash custom duty on the materials to be used for reconstruction of infrastructures damaged during the Gen Z movement.
Finance Minister Dr Swarnim Wagle made such announcement while presenting a budget for the fiscal year, 2083/84 in the joint meeting of the federal parliaments on Friday.
A special arrangement is in place for the reconstruction of the buildings damaged in fire and vandalism and installation of the equipment broken during the Gen Z movement occurred in September last year.
“Government has received a report of the insurance surveyors on the damages of buildings, furniture and equipment. So, the custom and excise duties for import of materials required for reconstruction and installation would be slashed by 50 percent,” said Minister Dr Wagle in the parliament meeting.
It will be applicable for industrial and trade houses. However, the star hotels which have already been entitled the discount on custom duty would not be provided double benefits.
As per budget announcement, the royalty and renewal fees for the casinos damaged during the Gen Z movement would also be provided concession.#nepal #rss
