Kathmandu: The Government of Nepal has unveiled the Economic Reform Implementation Action Plan – 2082, outlining a comprehensive roadmap for structural economic transformation based on the recommendations of the High-Level Economic Reform Recommendation Commission (2081 BS).

Action Plan Overview:
Formulated by: Committee chaired by Secretary Chudamani Paudel (OPMCM), with Revenue Secretary Dinesh Kumar Ghimire and Industry Secretary Krishna Bahadur Raut.

Mandate: Translate Commission’s recommendations (led by Rameshwor Prasad Khanal) into implementable ministry- and sector-specific actions.

Implementation Timeline: 6 months to 3 years, depending on targets.

Key Objectives & Targets
🔹 Financial Sector Reform (within 1 year)

• Lower operational banking costs.
• Narrow interest rate spreads between loans and deposits.
• Develop a bond market to manage rate volatility.

🔹 Fiscal and Taxation Measures
Cut government expenditure and indirect tax rates to control inflation.

Repeal 14 outdated acts within two years, including:

• Income Tax Ticket Charge Act (2019)
• Black-marketing Act (2032)
• Birta Abolition Act (2016)
• Others from 1956 to 2013
• Introduce broader anti-tax evasion provisions in VAT Act.
• Limit excise duty to harmful goods (public health/environment impact).
• Flat 10% income tax on export earnings.
• PAN linkage to all province/local tax and non-tax revenue streams.

🔹 Public Administration & Governance

• Implement federal-compatible administrative restructuring.
• Integrate provincial and local spending into a single account.
• Launch integrated project banking system for all three tiers of government (within 1 year).

🔹 Social Security

• Senior citizen allowance eligibility age to be raised to 70 years.
• Mandatory national ID card required to claim the benefit.

🔹 Public Enterprises & Asset Management
Convert state-owned enterprises into public limited companies (within 1 year).

Close and bring assets under state ownership:

1. Janakpur Cigarette Factory
2. Butwal Spinning Mills
3. Nepal Orient Magnesite
4. National Construction Co.
5. Nepal Engineering Consultancy Services
6. Remove Lumbini and Pashupati Development Funds from National Pride Project list (within 6 months).

🔹 Strategic Reforms (2-Year Timeline)

• Nepal Airlines Corporation: Restructure with a strategic foreign partner for professional management.
• Dairy Development Corporation: Convert into a public entity with nationwide presence.

Governance Emphasis
The plan underscores a whole-of-government approach, emphasizing the active involvement of provincial and local governments in implementing reforms.

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