Ban on import of peas, black pepper and betel nut lifted

Published On: October 30, 2021 12:05 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Oct 30: Nepal Rastra Bank (NRB) has lifted the ban on the import of peas, black pepper and betel nut, according to a statement issued by the bank on Friday.

According to the bank, the ban on the import of vehicles worth more than USD 50,000,too, has been lifted and the central bank will provide foreign exchange services accordingly. The Foreign Exchange Management Department of NRB has amended the Unified Circular 2020, stating that the ban has been lifted with immediate effect.

Executive director of NRB, Ramu Poudel said that the total ban imposed on the import of peas by the central bank has been lifted so that the total amount for its import in the current fiscal year will not exceed 80,000 metric tons. Similarly, the ban on the import of betel nuts has been lifted and 25,000 metric tons can be imported for the current fiscal year.

Likewise, it is now possible to import 50,000 metric tons of dates for the current fiscal year as the ban on the import of dates has been removed. NRB has also stated that foreign exchange facility will be provided. The Seed Act, 1988 has made provision for the sale and distribution of seeds listed and registered in Nepal only.



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