So far, it had designated Federation of Nepalese Chambers of Commerce and Industry (FNCCI) as the sole CoO issuing authority for Nepal. [break]
“Along with FNCCI, now CNI and NCC too can issue the certificate to the third country exporters,” said Commerce Secretary Purushottam Ojha. He told the press that the decision has been enforced with instant effect.
As for the issuance of CoO for exports to India, Ministry of Commerce and Supplies has designated Trade and Exports Promotion Center -- the government entity -- as governing authority for the issuance. “Under its convenorship, CNI and NCC along with FNCCI will be allowed to issue CoO to their member exporters from the start of the next fiscal,” said Ojha.
The government made such changes in the CoO provision as FNCCI and CNI entered in dispute over their rights to issue the certificate and also sharing of revenue this week.
Earlier, the government had allowed FNCCI to charge 12 paisa per Rs 100 worth of goods while issuing the CoO. FNCCI was allowed to retain 5.5 paisa and hand over 1.3 paisa to CNI.
But CNI disagreed and had been demanding treatment on par with FNCCI. Following the new decision, FNCCI, CNI and NCC would get equal opportunity to retain larger share, based on their members following.
FNCCI, meanwhile, has expressed dissatisfaction with the new arrangement. Instead, it has expressed readiness to stick to MoCS´ revenue sharing provisions amongst different business organizations.
Contrary to the CNI´s claim, FNCCI also said that it had been well adhering to the directives and distributing the revenue fairly among all stakeholders.
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