KATHMANDU, Sept 4: The government has sealed the Durbarmarg-based shoe outlet Bentley for selling shoes at an exorbitantly high price.
Acting on a tip-off, a joint monitoring team led by Minister for Supplies Shiva Kumar Mandal raided the branded shoe outlet after finding that it was selling shoes at a price 1, 000 percent more than its cost price.
According to Kumar Dahal, Director of Department of Supplies Management, the team found the outlet selling shoes for Rs 26, 990 while its actual procurement cost was Rs 4,720.
According to Minister Mandal the shoe outlet was blatantly cheating the customers in the name of special discount of Dashain and Tihar festivals offer. When asked for procurement invoice, it could not produce it.
According to the existing law, no trader can sell goods with the profit margin exceeding 20 percent.
Minister Mandal said the government will take stringent action against those who violate the existing trade law.