KATHMANDU: Finance Minister Rameshore Prasad Khanal has pointed out the need for increasing the consumption of domestic products to gradually replace the imports of foreign goods.

Addressing a program organized to mark the 74th International Customs Day today, Minister Khanal argued the national economy does not improve unless domestic production is increased. Many unnecessary goods are imported – without realizing the actual needs, which requires a curb as per law, he added.

A clear policy to promote domestic products is equally essential, the Minister said, informing that the Customs Act would be enforced effectively and regulation brought at the earliest. According to him, the government was gradually addressing the private sectors’ demands. It is natural to face criticism for good initiatives in the beginning, Khanal asserted.

Finance Secretary Ghanashyam Upadhyay, however, admitted that some practical reforms were necessary in customs sectors.

It was shared that a new Customs Reform and Modernization Strategy was being developed.

Secretary at the Public Service Commission, Rameshwor Dangal, said, “It is indeed positive that a system to assess customs valuation based on transaction value instead of the reference price booklet has been enforced.” The Secretary added that customs administration is gradually progressing through increased systemization, automation and the incorporation of advanced technology.

Director General Shyam Prasad Bhandari said the Customs Reform and Modernisation Plan has had positive impacts on trade facilitation, revenue collection, IT usage, and organizational strengthening.

According to him, the online customs valuation database system, which was launched at the Biratnagar Customs Office, has now been implemented across all customs offices. He also shared that that the old Customs Valuation Reference Booklet has been scrapped, which is expected to reduce trade costs, increase transparency, encourage fair trade, and help combat illegal trade.