KATHMANDU, Jan 26: The government has launched ‘Nepal National Single Window System’ that integrates the Department of Customs (DoC) with various government agencies that work as oversight bodies of the government and private sector associated with foreign trade.
Amid a program organized to mark the 69th Customs Day on Tuesday, Finance Minister Bishnu Prasad Paudel inaugurated the digital platform. “The web interface facilitates the official procedures for import and export through an online system and helps make available the information on harmonized system code of various products and tax related issues,” said Minister Paudel.
Revised interest rate corridor system introduced
At a time when the traders have been complaining of exorbitant costs that they face in the export and import process, the new system is also expected to reduce the costs. According to the traders, while it takes around 32 days to import goods from third countries, it takes around 28 days to export goods.
Shekhar Golchha, president of the Federation of Nepalese Chambers of Commerce and Industry, said it costs an average of US $ 1,320 to receive a consignment of import goods. According to the DoC, the new system could reduce the trading costs by 15 to 20 percent.
With the new system coming into effect, the traders concerned do not need to visit various government offices to get their work done. It is also expected to minimize leakage in the government revenue collection during the trading process.
Meanwhile, the Trade and Export Promotion Center launched ‘Nepal Trade Portal’ on Tuesday. According to the Ministry of Industry, Commerce and Supplies, the web portal enables the users to get detailed information about the country’s imports and exports.
