KATHMANDU, April 8: Prime Minister KP Sharma Oli expressed dissatisfaction about how local middlemen escalated sugar prices after the government announced a ban on sugar import to promote local industries and farmers.
In September 2018, the government had decided to ban sugar imports to promote domestic product after import started to threaten the existence of Nepali sugar industries.
Until the ban was introduced, Nepal imported sugar from Pakistan, Brazil and India. The price of sugar imported from Pakistan was Rs 62 per kg while the sugar imported from Brazil was Rs 60.
“We banned import but then, we’ve found that local industries and middlemen, themselves, were fostering black marketing,” Oli said on the 18th Annual General Assembly of the Chamber of Commerce said. “A kg of sugar was sold for as much as Rs. 105,” Oli remarked.