RSP deputy leader criticizes lack of discussion on BFIA amendment bill
Speaking at Monday’s meeting of the Finance Committee, Shrestha said the bill was tabled without adequate deliberation.
KATHMANDU: Rastriya Swatantra Party (RSP) parliamentary deputy leader Biraj Bhakta Shrestha has raised objections over the lack of sufficient discussion before introducing the amendment bill to the Bank and Financial Institutions Act (BFIA), 2073.
Speaking at Monday’s meeting of the Finance Committee, Shrestha said the bill was tabled without adequate deliberation.
He criticized the government’s tendency to burden every economic issue with taxation, which, according to him, is directly impacting daily consumers.
“It’s like treating a headache with stomach medicine,” Shrestha remarked, expressing dissatisfaction with the government’s approach. He emphasized that gold plays a vital role in Nepal’s economy—not just economically, but also culturally and religiously, especially among households.
He further stated, “We throw every problem into the tax bucket, and that hurts consumers. Despite how gold is interpreted, many believe that it has helped stabilize our economy through informal household savings.”
Shrestha also highlighted the need to bring informal gold trade into the tax net while calling for systemic reforms to tackle black money. “Simply increasing taxes won’t solve the issue. Instead, we must improve the financial system,” he added.
His comments come amid ongoing debate on Nepal’s efforts to escape the Financial Action Task Force (FATF) grey list by tightening financial regulations.
