September 29: CPN-UML Chairperson KP Sharma Oli has said that he will oppose the government's decision not to seek source of income for new investment.

In a discussion with the editors-in-chief of various media on September 28, he said that this provision of the budget was not appropriate and that it would bring problems. According to him, the government has brought such a provision to bring in black money which his party opposes. "We are not in favor of allowing black money to be brought in. Black money cannot be made white," he said.

The new provision for investment brought by the government by amending the Income Tax Act under the Economic Act has faced strong opposition from all quarters.

In the proposal to amend the Income Tax Act, 2058 BS, the government had arranged that ‘the source of income for investment will not be sought' while investing in various infrastructure sectors to attract investment.

Earlier, the then Finance Minister of the Oli government, Dr. Yuvaraj Khatiwada, was also opposed to introducing such provision in the budget.

Transparency International, along with various political parties, had protested the government's decision to amend the Income Tax Act to legalize illicit money.

In a statement issued on September 20, Transparency International Nepal called on the coalition government to withdraw the proposal immediately.

However, the government has defended the move saying that it will not allow investment of illegal money.