KATHMANDU, Feb 26: The import of mobile phones surged last month, driven by increased demand ahead of the general election scheduled for March 5.
Records from the Department of Customs (DoC) show that Nepal imported 162,000 mobile phones worth Rs 3.38 billion between mid-January and mid-February. This marks a 49 percent increase compared to the 118,000 sets worth Rs 2.26 billion imported during the same period last fiscal year.
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During the first seven months of the current fiscal year, the country has spent Rs 26.68 billion (at customs prices) to import 1.414 million mobile phones. This represents a significant growth in expenditure, compared to the import of over 1.22 million units worth Rs 18.93 billion during the same period last year.
The government has collected Rs 4.97 billion in customs revenue from mobile phone imports in the seven months of the current fiscal year. Importers are required to pay 13 percent Value Added Tax (VAT) and a 5.65 percent excise duty on imported mobile phones.
