Finance Minister Rameshwar Khanal Announces Final Preparations for the Full Implementation of the New Customs Act

Finance Minister Rameshwar Khanal has stated that the final preparations for the full implementation of the new Customs Act are nearing completion. Speaking at an event organized on the occasion of International Customs Day in the capital, he clarified that the Customs Act, which was introduced to facilitate the private sector and streamline customs administration, would soon be fully operational.

Minister Khanal acknowledged that although the Customs Act had been issued, its implementation had been delayed due to the absence of the necessary regulations. However, he assured that the issue would soon be resolved. According to Khanal, the customs regulations are now in their final stages of preparation and will be presented to the Council of Ministers for approval shortly.

"The Customs Act required regulations for full implementation, and although it took some time, the process will be completed, and the regulations will soon be passed by the Council of Ministers," Khanal said.

Addressing concerns regarding the high penalties under the Customs Act, Khanal suggested that the goal should be to create an environment where penalties are not needed. "While there have been complaints about the severity of penalties, our aim is to create a situation where penalties will not be necessary," he explained. Khanal emphasized the need for cooperation between the private sector, customs administration, and the Ministry of Finance to foster an environment of reform.

He also committed to enhancing the efficiency of the customs administration while prioritizing trade facilitation. "The Ministry of Finance will provide the necessary support to improve customs efficiency and focus on trade facilitation," Khanal added.

Minister Khanal highlighted the importance of replacing consumption based on imports with domestic production, stating that improving the economy without increasing internal production would be difficult. "Unnecessary imports of goods that could be produced domestically should be controlled through laws and regulations," he said.

On the occasion, Khanal also announced that the issuance of Certificates of Origin would now be done exclusively through the National Single Window system. From now on, Certificates of Origin with QR codes will be issued online.

At the event, Finance Secretary Ghanshyam Upadhyaya pointed out that inconsistencies in customs valuation were causing problems, and he emphasized the need for an online valuation system. Comptroller General Shobhakant Poudel stated that customs administration should be free from fear or temptation and stressed the need for strict measures against illegal imports.

Secretary of the Ministry of Industry, Commerce, and Supplies, Ram Prasad Ghimire, stated that the new Customs Act, the database system, and the reform programs are modernizing and making the customs administration more effective.

Overall, the government’s preparations to strengthen the economy through the effective implementation of the new Customs Act and regulations, customs administration reforms, trade facilitation, and promotion of domestic production are becoming increasingly clear.