31st May 2024, Kathmandu
NAS-IT welcomes the recent budget announcement for the fiscal year 2081/82. This budget reflects the government’s acknowledgement of the potential of the IT sector to drive the nation’s growth.
NAS-IT Government’s 2081/82 Budget
The budget aligns with the NAS-IT’s vision of establishing Nepal as a global tech hub. It outlines an ambitious goal of exporting Rs. 3 trillion worth of IT products and services over the next decade. Additionally, the budget proposes the establishment of mini IT parks by utilizing existing government and private complexes.
Prioritizing local IT companies in public procurement, and initiatives to empower the tech workforce are highly encouraging developments.
While NAS-IT applauds the budget and the positive developments announced, it recognizes the crucial role of implementation in achieving these goals. NAS-IT stands ready to collaborate with government and other stakeholders to translate these plans into detailed action items.
Achieving these ambitious goals requires a long-term plan and concentrated efforts from multiple stakeholders. NAS-IT proposes further government support in future budgets, including: Facilitating the establishment of subsidiaries and branch offices of Nepali tech companies abroad.
- Ensuring consistent tax practices and policy stability.
- Granting the IT sector access to priority sector loans.
- Offering insurance policies specifically designed for tech companies.
- Providing support for participation in international exhibitions.
- Empowering diplomatic missions to actively promote the Nepali tech sector.
- Establishing a dedicated IT promotion board.
Compared to previous budgets, the recognition provided to the IT sector this year is a significant positive step. NAS-IT thanks the government for considering our advocacy efforts and reflecting them in this budget.
It recognizes the long road ahead, but remains committed to working alongside the government and other stakeholders for a thriving and globally competitive Nepali IT sector.
For more Information: NAS-IT Government’s 2081/82 Budget