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MP Prem Suwal Calls for Property Cap and Asset Nationalization in Nepal

June 30, 2024
MP Prem Suwal

Prem Suwal, a Member of Parliament from the Nepal Labor Kisan Party, has called for a cap on citizens’ property ownership. He proposed this during an amendment to the Economic Bill, 2081. Suwal also suggested halting the import of goods that can be produced domestically, prohibiting Nepalis from holding money in foreign banks, and automatically nationalizing assets from undisclosed sources.

“If the source isn’t revealed, nationalization should occur automatically. Imposing a small tax on undisclosed assets and legitimizing them is akin to the government collaborating with thieves. This clause should be removed,” he stated.

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