Traders and Entrepreneurs unhappy with VCTS

Traders and Entrepreneurs unhappy with VCTS
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Traders and entrepreneurs have protested against the decision of the government to implement the Vehicle and Consignment Tracking System (VCTS). While traders have been urging the government to roll back its decision, the National Entrepreneurs Federation of Nepal (NEFN) staged a protest asking the government not to make VCTS mandatory.

Inaugurating the official beginning of VCTS, Finance Minister Yubaraj Khatiwada had said the system would help maintain transparency in trade and formalize trade and businesses in the country.

However, traders have opposed and said that the system is ineffective for developing countries like Nepal. As part of the protest against the VCTS implementation, traders have also stopped ferrying goods to and from Nepal.

“The government’s decision to implement VCTS is not timely and has come without necessary groundwork,” said Narayan Prasad Bhandari, a trader based in Rupandehi.

 He further added that they will completely halt ferrying goods if the government does not step back from its decision to make VCTS mandatory.

 “The government should not implement policies like VCTS abruptly and make it mandatory. The system should be implemented as a pilot project and the pros and cons of such a system should be analyzed before implementing it in a full-fledged manner,” said Naresh Katwal, president of NEFN. Meanwhile, the Department of Revenue Investigation (Dori) has said that VCTS will be implemented as a pilot project until mid-October and will be implemented in a full-fledged manner after that.

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