Kathmandu. Some important points related to insurance have also been included in the action plan prepared by the government to implement economic reforms.
A committee formed by the government to implement the recommendations of the report of the High Level Economic Reform Suggestion Commission formed under the chairmanship of former Secretary Rameshwor Prasad Khanal has prepared an action plan with sectoral and ministerial responsibilities and deadlines. In the same action plan, two important issues related to insurance have been set for implementation.
According to the action plan, arrangements should be made to insure the house while taking the completion certificate of the house construction in the urban area. The government also has an action plan to reduce the amount paid by the insurance premium while determining the price of taxable assets.
Similarly, the government has an action plan to make arrangements for issuing infrastructure bonds to insurance companies for high-yielding infrastructure projects to mobilize long-term financial resources.
The Ministry of Finance, The Ministry of Urban Development and all the local levels are responsible for implementing both these works, while the Office of the Prime Minister and Council of Ministers is the monitoring and facilitating body. Both the provisions will be implemented within a year.
