KATHMANDU, August 30: The government is considering lifting a ban on import of a number of goods including mobile phones and alcohol.
According to an official at the Ministry of Industry, Commerce and Supplies (MoICS), the ministry has forwarded proposals to remove import restrictions on these goods citing the upcoming Dashain and Tihar.
Bowing to the pressure of private sector, govt decides lifting...
Since April 26, the government has been imposing a ban on 10 luxury goods after the country experienced depletion of foreign currency reserves. On July 17, the government extended the embargo till August 30.
With the government imposed restriction in place, the import declined 12.90 percent in the first month of the current fiscal year. This has provided a cushion to the country from the depleting foreign currency reserves.
Before the ban, there was 9.28 billion dollars in reserves in mid-May, but this amount had increased to 9.54 billion dollars by mid-July, according to the records with Nepal Rastra Bank.
The MoICS source said the government is lifting the ban on alcohol and mobile phones also after the contraband products are found in large numbers in the local market. After the embargo, these goods are suspected to be smuggled in the local market.
