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Economy

Govt rolls back decision to hike 13 percent tax on internet fee

Gorkha Post

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KATHMANDU — The government has decided to roll back its decision to hike 13 per cent telecommunication service charge on internet services on Thursday.

A meeting held between the internet service providers and officer bearers of Ministry of Industry and Communications has decided to roll back the earlier decision of government to hike internet fees.

Internet service providers, in line with the government’s decision, had raised internet fees from mid-July. ISPs had been charging 13 percent tax from the customers after the government decided to charge 13 percent tax from the internet providers.

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According to the agreement, the internet service providers will now not charge additional 13 percent tax levied by the Nepal Telecom and they will pay the telecommunications service fee to the government from the amount they have been charging to the customers.

This agreement will be implemented for those customers who have been taking the service only for home service. The corporate users, however, have to pay the 13 percent tax.

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Economy

Business community demands slash in interest rate

Pratigya Waiju

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BIRATNAGAR— The industrialists and traders in Biratnagar have asked the government to immediately reduce the high interest rate charged by the bank and financial institutions (BFIs) from the borrowers.

They argued that the interest rate should be around seven percent for the production-based industries and up to nine percent for the trading firms.

At a programme jointly organised by Industry Association Morang and Trade Association Morang on Thursday, the business leaders drew attention of the government to that end adding that job creation for the labour force of 500,000 was not likely only from the industry and trade sectors.

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Stressing the need for slashing the interest rate, they also argued the central bank should realise the reality that no bank was running out of loss. The industrialists and businesspersons said that industries and business should flourish to reduce the trade deficit, strengthen the economy and create more job opportunities.

Industrialists Bhim Ghimire, Pawan Kumar Sharda, Sushen Pyakurel, Moti Dugad and others said that bank’s interest rate should be low to increase the domestic investment and lure the foreign investment.

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