Banking News – Finance Minister Swarnim Wagle has instructed the newly appointed heads of the country’s customs and internal revenue departments to work with integrity and determination to achieve the government’s ‘Mission Rs. 1.6 Trillion’ revenue collection target.

The directive was issued during a meeting at the Ministry of Finance on Tuesday with Yam Lal Bhusal, newly appointed Director General of the Department of Customs, Bhishma Kumar Bhusal, Director General of the Inland Revenue Department, and Prem Prasad Acharya, who has been appointed Deputy Director General of the Department of Customs.

Minister Wagle urged the officials to maintain a positive business environment while working honestly to meet the ambitious revenue target. He said the ministry would provide all necessary support to prevent revenue leakage, encourage voluntary tax compliance, and improve tax collection.

He also instructed the officials to modernize customs and tax administration by integrating information technology to make the systems more efficient and transparent.

According to the finance minister, strengthening customs and tax revenues will enhance Nepal’s domestic income, reduce dependence on external borrowing, and support the country’s long-term economic development. He stressed that improving the business climate while plugging systemic leakages should remain the primary focus in achieving revenue targets.

Wagle further directed the newly appointed officials to take strict action against employees involved in misconduct while ensuring recognition and incentives for honest and high-performing staff.

Expressing confidence in the appointments, the finance minister said the two Director Generals were among the government’s most capable senior bureaucrats and voiced optimism that tangible results would be visible within the next six to eight months.

The Cabinet meeting held on Asar 18 transferred the three joint secretaries to the Ministry of Finance. After assuming office on Asar 22, they were assigned their respective responsibilities as Director General of the Department of Customs, Director General of the Inland Revenue Department, and Deputy Director General of the Department of Customs.

The newly appointed officials pledged to carry out the minister’s directives with integrity and commitment.