KATHMANDU, Aug 31: Nepal imported legumes worth Rs 1.34 billion in the first month of the current fiscal year.

KATHMANDU, Aug 11: India has started importing tomatoes from Nepal. Indian Finance Minister Nirmala Sitharanam made an announcement in the lower house of India’s bicameral parliament (Lok Sabha) on Thursday that they have started bringing tomatoes from Nepal.

KATHMANDU, Aug 9: Import of electric stoves is on the rise with the government facilitating the use of electricity for the household purpose.

KATHMANDU, Aug 5: The government has decided to immediately bring one million tons of paddy and 100,000 tons of rice from India.

KATHMANDU, July 29: The statistics released by the Department of Customs recently, shows that in the last fiscal year, toothpicks worth more than Rs 10 million were imported.

JHAPA, July 26: As the youths are leaving abroad for foreign jobs and the land plots in the rural areas are left barren, the country has imported millet worth Rs 513 million in the last Fiscal Year (FY) from India.

KATHMANDU, July 26 : Nepal imported 4,050 units of electric cars worth Rs 11.84 billion in the last fiscal year.

KATHMANDU, July 1: Nepal imported rice and paddy worth over Rs 33.6 billion in the first 11 months of the current fiscal year despite the government’s commitment to become self-sufficient in food by increasing agricultural production.

The import of electric vehicles (EVs) in Nepal has witnessed a remarkable surge in the first 11 months of the current fiscal year. With 3,870 EVs worth Rs 11.23 billion being imported, it is evident that there is a growing interest and demand for clean and sustainable transportation options in the country. It is imperative for the government to take further steps to promote the adoption of electric vehicles nationwide, capitalizing upon this positive trend

KATHMANDU, June 25: Nepal imported 3,870 units of electric vehicles (EVs) in the first 11 months of the current fiscal year.

KATHMANDU, May 26: Smart watches worth over Rs 330 million have entered Nepal in the first 10 months of the current fiscal year 2022/23 (from mid-July 2022 to mid-April 2023).

The National Dairy Development Board's decision to recommend importing milk from India has sparked protests among farmers in Chitwan, who feel that the government has neglected their needs. It is essential that the government takes note of the farmers' concerns and promotes domestic production.

CHITWAN, May 6: Farmers in Chitwan have protested after the National Dairy Development Board (NDDB) recommended importing milk from India.

KATHMANDU, April 23: Nepal exported pet food worth Rs 2.26 billion in the first nine months of the current fiscal year.

Import of EVs rises by 66 per cent

April 22, 2023 09:00 am

KATHMANDU, April 22: Import of electric vehicles (EVs) has increased by 66.39 per cent in the first nine months of the current fiscal year compared to the corresponding period of the last fiscal year.

The Bitter Story of Sweet Honey

April 10, 2023 07:30 am

Nepali honey is an exquisite product that possesses unparalleled taste and health benefits. However, unfortunately, it struggles to find a market due to the easy import of substandard honey from India, which is a threat to the livelihoods of local farmers and the quality of products available to consumers.

KATHMANDU, April 2: Hemraj Devkota, owner of Swadeshi Honey and Bee Trade Center in Sarlahi, is worried due to the lack of honey sales. Six and a half tons of honey produced by Devkota at his bee farm has not been sold.

KATHMANDU, March 25: Nepal Rastra Bank (NRB) has increased the quantity of silver imports. As the foreign exchange reserves have increased, the central bank has allowed banks and financial institutions to import silver equivalent to $ 60,000 at a time.

KATHMANDU, March 24: In the first eight months of the current fiscal year, 2,200 units of electric vehicles (EVs) have been imported into Nepal. According to the data released by the Customs Department, 2,198 four-wheeled electric vehicles were imported in eight months of the current year.

KATHMANDU, March 23: During the first eight months of the current Fiscal Year 2022/23, Nepal has imported goods worth one trillion rupees. According to the data of the Department of Customs, goods worth over 1 billion were exported, while the country imported goods worth Rs 1.38 trillion during the period.

KATHMANDU, March 22: Nepal's trade deficit stands at Rs 954 billion in the first eight  months of the current fiscal year.

KATHMANDU,  March 12: Both export and import have decreased in the first seven months of the current fiscal year 2022/23. This is stated in the Current Macroeconomic and Financial Situation, based on seven months' data ending mid-February, released by Nepal Rastra Bank (NRB) today.

KATHMANDU, March 4: Nepal imported 86,513 units of electric stoves in the first seven months of the current fiscal year.

A step towards self-reliance

February 12, 2023 07:42 am

Valentine's Day is just around the corner, and it's that time of the year when love is in the air and red roses are in high demand in Nepal. But this year, there's a twist in the tale. The government has decided to ban the import of fresh roses from abroad, just days before the most romantic day of the year.

KATHMANDU, Jan 20: Nepal Rastra Bank (NRB) has removed the provision of cash margin, which the importers need to maintain against their letters of credit (LCs) while importing goods.

Prosperity through Agriculture

December 8, 2022 09:00 am

As agriculture has not been able to attract the youth even in the rural areas, the farmlands in various districts in the country are left fallow. And we have been consuming agricultural products by importing them from abroad. We have been importing almost everything we consume including rice, corn, wheat, potatoes, edible oil, spices etc.

KATHMANDU, Nov 13: In the first three months of the current fiscal year 2022/23, television sets worth more than Rs 580 million were imported in Nepal from various countries.

KATHMANDU, Nov 6: With the removal of 10 percent excise duty on 100 kW electric vehicles in the budget of the current financial year, the import of 100 kW vehicles has increased dramatically in a period of three months.

KATHMANDU, Oct 17: Experts have said that there is a need to ban agricultural products imported from abroad for the improvement of Nepal's food system and food sovereignty.

KATHMANDU, OCT 16: Nepal Rastra Bank (NRB) has asked the banks and financial institutions (BFIs) not to open the letter of credit (LC) for the import of restricted goods.

KATHMANDU, Oct 15: The government has decided to continue the ban on the import of expensive vehicles, alcohol, mobile phones and motorcycles.

KATHMANDU, Oct 11: Traders and business people have claimed that the automobile sector is in crisis as the government has halted the import of four-wheeled private vehicles for about six months. According to NADA Automobiles Association of Nepal, the automobile sector has lost billions of rupees due to the ban on the import of vehicles.

KATHMANDU, August 27: Ministry of Industry, Commerce and Supplies (MoICS) will continue to ban the import of luxury goods. A high-level meeting held at the MoICS on Friday to review the ban of various luxury items decided to maintain the import ban for some more time.

KATHMANDU, August 21: The government is importing 50,000 tons of sugar for the approaching Dashain and Tihar festivals to preempt any possible shortage of the sweetener during the festivals.

KATHMANDU, Aug 20: Bhutan will ban the import of all vehicles except utility vehicles, heavy earthmoving machines and agriculture machinery to save dwindling foreign exchange reserves, the government said in a notice seen by Reuters on Friday.

ILAM, August 16: China has indicated that it will import Nepali tea at a time when efforts are being made to enact a law to stop its import in India. The Government of Nepal, through the Chinese Embassy in Kathmandu, had been requesting China to import Nepali tea.

KATHMANDU, August 12: The import of electric vehicles increased by more than 600 percent after the government reduced the excise duty and customs duty on electric vehicles in the last fiscal year - 2021/22. In the FY 2020/21, after the former Finance Minister Yuba Raj Khatiwada imposed excessive tax on electric vehicles, the import of electric vehicles had decreased.

KATHMANDU, August 4: Following the government’s decision to restrict the selling of wood products produced from forests, the import of furniture and wood has skyrocketed in the country. While there is a shortage of dollar reserves in the country, about Rs 18 billion went out of the country in the fiscal year 2021/22 alone due to the increase in the import of wood, furniture, and furnishing materials. On the other hand, wood materials produced from the forests of Nepal are decaying.

KATHMANDU, Aug 1: Nepal imported 5,578 kg of gold in the fiscal year 2021/22, which gave the government a revenue of Rs 4.40 billion.

KATHMANDU, July 25: Nepal imported goods from 164 countries during the fiscal year 2078/79 BS (2021/22).

KATHMANDU, July 23: In 11 months of the fiscal year 2021/22, import of goods and services increased to Rs 185 billion 840 million with a whopping rise by 53.3 percent.

JHAPA, July 5: The import of agricultural products has exceeded the export from the Kakarbhitta Customs Office. In the last 11 months of the current fiscal year, agricultural products worth Rs 8.67 billion were imported from this customs office.

KATHMANDU, July 1: Government statistics for the last one decade indicate the country's rising dependency on rice. In fiscal year 2012-13, rice worth Rs 20 billion was imported in the country and the figure rose by 150 percent to Rs 50 billion in the first eleven months of the current fiscal.

We are not sacrosanct to global events and sustain some forms of impact because Nepal heavily depends on imports of basic food items. It is difficult to foresee how Nepal will navigate through this at the end of the economic tunnel of the projected high growth and join the club with other middle-income countries like China, Bangladesh and Vietnam, for example.

KATHMANDU, June 1: The government turns flexible on the quota of imported gold by individuals while raising the rate of customs duty on the imported gold jewelry beyond the prescribed limits.

KATHMANDU, May 21: Failure to get chemical fertilizers on time even after the onset of the monsoon season is one of the biggest concerns of farmers in the country.

KATHMANDU, May 20: The Ministry of Finance (MoF) has started sorting out the list of raw materials, semi- finished and final goods in a particular type of product in order to revise the import duty based on the nature of the imported goods.

KATHMANDU, May 3: The private sector has urged the government to raise the duty on imported agricultural goods to protect the locally-produced farm products.

KATHMANDU, April 27: Nepal Electricity Authority (NEA) is starting a scheduled loadshedding to big industries from Wednesday citing reduced import of electricity from India.

KATHMANDU, April 25: Although agriculture has been a major sector of the country's economy as the main source of livelihood, employment and economic and social transformation, it has been found that the country has been importing huge quantities of agricultural goods.