Government Plans 27 Economic Laws as Wagle Champions Private Sector

Finance Minister Dr. Swarnim Wagle declared that the Rastriya Swatantra Party-led administration is proving to be the most reform-minded and private-sector-friendly government in Nepal's history, pledging major legislative overhauls to spur economic expansion.

Speaking at a workshop in Kathmandu on legal reforms ahead of the Nepal Infrastructure Summit 2026, Dr. Wagle said the government intends to introduce 27 new pieces of legislation during the current fiscal year to support budgetary and economic restructuring, as reported by Nepal Samaya. He noted that within thirty minutes of assuming his ministerial post, he had scrapped 15 obsolete acts, while pushing ministries to accelerate draft legislation. Dr. Wagle also stated that the Cabinet has already passed 54 bills out of 166 being advanced by the Ministry of Law, surpassing requests previously submitted by business groups like the Confederation of Nepalese Industries and the Federation of Nepalese Chambers of Commerce and Industry.

1. Wagle outlined a long-term goal of sustaining an average real economic growth rate of 7 percent over the next decade, alongside an aim of expanding Nepal's economy to $100 billion, according to Onlinekhabar. Addressing the workshop, he explained that this target is grounded in the historical trajectories of roughly a dozen nations that achieved accelerated development after World War II, rather than being an unrealistic figure. He emphasized modern economic drivers suitable for Nepal's geography, including the digital economy, international trade in services, and technology-driven industries, Annapurna Post and Onlinekhabar reported.

Marking six months of the current administration, Dr. Wagle asserted that no credible corruption accusations could be leveled against the government, Clickmandu reported. He stated that the administration maintains zero tolerance for graft and is pursuing unsparing governance reforms across state bodies. Acknowledging business community anxieties surrounding recent enforcement actions, Dr. Wagle added that the government intends to free private enterprises from fear while providing incentives and an enabling environment.

Other cabinet ministers echoed the call for structural overhauls at the workshop, according to Annapurna Post. Minister for Law, Justice and Parliamentary Affairs Sobhita Gautam argued against blindly adopting foreign development models, urging customized domestic frameworks and regulations that facilitate investors rather than create bureaucratic gridlock. She stressed that statutes must guarantee a secure return on investment. Meanwhile, Minister for Infrastructure Development Sunil Lamsal suggested overhauling fiscal policy by providing initial exemptions or zero customs tariffs and levies to businesses, shifting the state's revenue collection to corporate income taxes only after enterprises become profitable to avoid draining working capital.