Government lifts ban on importing vehicles worth over USD 50,000

expensive vehicle Import ban lifted

The government has lifted a ban on imports of vehicles worth more than USD 50,000. The Ministry of Industry, Commerce and Supplies has published a notice in the Gazette informing that the ban imposed since last year has been lifted.

The government had banned the import of vehicles costing more than USD 50,000 since April 6 last year, citing fears of a global outbreak of the corona virus (Covid-19) infection, which would have a negative impact on foreign exchange reserves.

According to the new arrangement made by the government, the ban is no longer in effect hence the local automobile dealers and importers can now import vehicles of any value in Nepal.

Similarly, the government has imposed quantitative restrictions on food items such as corn, betel nut, dry dates and pepper.

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According to the new arrangement, up to 80,000 metric tons of corn can be imported in the remaining period of the current fiscal year. The government had imposed a complete ban on the import of corn on April 6 last year.

Similarly, 25,000 metric tonnes of Areca nuts(सुपारी) will be imported in the remaining period of the current fiscal year. The government had imposed a complete ban on betel nut imports from the same date last year.

According to the Gazette published today, 5,000 metric tonnes of Dry Dates can be imported in the current fiscal year. The government had imposed a complete ban on the import of Dry Dates from April 6 last year.

Similarly, quantitative restrictions have been imposed on pepper imports. The government has made an arrangement to import 15,000 metric tonnes in the remaining period of the current fiscal year by removing the complete ban on pepper import from April 6 last year.

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