Minister Mahat urges private sector to focus on production

July 22, Kathmandu: Finance Minister Dr Prakash Sharan Mahat has urged the private sector to focus on production. Only trade would not suffice to make the national economy vibrant, he suggested.

Minister Mahat said it during a programme organized by the Institute of Chartered Accountants of Nepal to distribute the best financial report award. It was also the oath-taking function of the newly elected chair and vice chair of the Institute.

“Private sectors should not limit themselves in trade, but expand to production,” he stressed, adding that government makes investment in the construction sector, education and health and also play a regulatory role.

The Finance Minister is for change in the work style of the private sector. More professionalism is required, he viewed. Mahat reminded that transparency was maintained in the business sector after then finance minister Dr Ram Sharan Mahat imposed value-added tax (VAT).

He made aware the accountants not to misuse their rights. Accounting and auditing are related to the rule of law and transparency, so responsible behaviour is warranted.

On the occasion, Acting Auditor General Ram Maya Kunwar administered the oath of office and secrecy to the newly elected Chairman of the Institute, Sujan Kumar Kafle, while Kafle to Vice Chairman Prabin Kumar Jha. RSS