Falling reserves

October 1, 2019 00:30 am

In county like ours whose economy is heavily dependent on imports, foreign exchange reserves should be adequate to sustain imports for at least eight months

BIRGUNJ, Aug 27: When the dry port came into operation at Sirsiya of Birgunj in the Fiscal Year 2004/05 only 85 rakes with full cargoes entered Nepal in a year. The import rate of bulk cargo and bag cargo was zero. After one and a half decades of its operation, over 100 rakes enter Nepal every month.

BUTWAL, Aug 22: Though the government statistics have shown that every year the production of vegetables is increasing, the import of vegetables has not reduced.

KATHMANDU, Aug 21: In a major agreement that is expected to ease the import and export of various food items between the two countries, Nepal and India have agreed to recognize each other’s inspection, testing and certification of a number of exportable goods such as vegetables and fruits conducted by their relevant bodies.

LONDON/BEIJING, Aug 15: China has severely restricted imports of gold since May, bullion industry sources with direct knowledge of the matter told Reuters, in a move that could be aimed at curbing outflows of dollars and bolstering its yuan currency as economic growth slows.

RASUWA, July 31: Apples worth Rs 3.3 billion were imported from China via Rasuwagadhi border in FY2018/19.

BUTWAL, July 30: Vehicles and petroleum worth over Rs 47 billion was imported from the Bhairahawa customs in the last Fiscal Year 2018/19.

KATHMANDU, July 28: Despite widespread criticism from academics, intellectuals, publishers, sellers, and ordinary citizens, the government seems to be obstinate toward imposing 10% customs duty on the import of books.

BANEPA, July 24: Nepal is yet to become self-reliant in maize production as the country continues to import, mostly from India, with an increasing trend for the last 10 years.

KATHMANDU, July 22: South Korean companies have shown interest in importing glacial spring water from Nepal. However, due to lack of government policy, it may not happen immediately. The government has not set criteria for export of water, whether naturally occurring or processed, due to which exports may take some time.

KATHMANDU, July 20: The import of goats from India has been halted for four months now, after health examination certificates of the livestock was made mandatory for import.

KATHMANDU, July 14: The government has decided to allow the import of restricted commodities that were already under the process of imports before a notice on the ban was issued last month.

KATHMANDU, July 11:Prime Minister KP Sharma Oli has said that he was also deceived into thinking that no letter with regards to pesticide residue test was received from India.

KATHMANDU, July 10: The Supreme Court on Wednesday stayed the government's recent decision to put on hold its previous decision to carry out pesticide testing for vegetables and fruits imported from India.

KATHMANDU, July 8: Minister for Industry, Commerce and Supplies Matrika Prasad Yadav on Monday admitted that the government backtracked on its decision to conduct pesticide residue tests on fruits and vegetables imported from India and third countries due to lack of modern labs at the customs points.

KATHMANDU, July 7: Government has said that it will take at least one year to start lab test of the vegetables and fruits imported from India and third countries.

KATHMANDU, July 5: The government has stepped back from the decision to examine the vegetables and fruits that are imported from India.

KATHMANDU, June 9: For the first time, 10 percent customs duty is being levied on all types of books imported from India. The students will be directly hit with this provision coming into effect from coming July 17 as stipulated in the budget statement for the fiscal year 2019/20.

BANKE, May 11: Rice worth over Rs 5 billion was imported via Nepalgunj checkpoint till April 13 of the current fiscal year. A total of 97,732 metric tonnes of rice was imported till April 13 from the beginning of the current fiscal year.

KATHMANDU, April 30: Though Prime Minister KP Sharma Oli had said that he was ‘tricked’ by sugar mills to restrict the import of sugar, the government has continued the quantitative restriction until mid-July. The restriction that was in place until Chaitra end (April 13) was extended till mid-July.

PARBAT, March 22: Import of chickens has been stopped to four districts - Parbat, Baglung, Myagdi and Mustang - following detection of bird flu in neighbouring districts including Kaski, Chitwan and Makawanpur.

KATHMANDU, March 10: The government’s spending on vehicle purchase, fuels and travel expenses is lower this year, according to the midterm review of the budget and program unveiled last week.

KATHMANDU, Jan 19: The rising import bill of the country has had its impact on the foreign exchange (forex) reserves, which dipped $79 million in first five months of the current fiscal year.

KATHMANDU, Dec 28: Nepal's trade deficit widened by 36.11 percent to Rs 569.49 billion in the first five months of the current fiscal year 2018/19 compared to same period of the last fiscal year 2017/18 as exports growth fail to catch up the rapidly surging imports bill.

RASUWA, Nov 25: Agro products worth Rs 770 million have been imported from China via Rasuwagadhi border in the first four months of the current Fiscal Year 2018/19.

KATHMANDU, Oct 30: Nepal will be importing flowers and garlands worth around Rs 110 million for the upcoming Tihar festival.

KATHMANDU, Oct 26: The total trade deficit of the country has widened 45.92 percent in the first quarter of the current fiscal year 2018/19 to Rs 349.84 billion, driven by a sharp rise of import bill and sluggish exports growth.

BEIJING, Oct 22: Nations across the globe are beginning to suffer from waste build-up after China stopped importing recyclable garbage this year. Japan has become the latest country reporting severe recycling industry overload.

BIRGUNJ, Oct 11: Vehicles worth Rs 8.28 billion were imported to Nepal from India and other third countries till the first two and a half months of the current fiscal year. Out of total revenue collected from the Birgunj Customs Office, 40 per cent revenue was collected from the vehicles, said Customs Officer Santosh Yadav.

TIKAPUR, Oct 10: Banana farmers have sought restriction of banana import from India, stating that unfettered access of the Indian fruit has harmed their business.

KATHMANDU, Oct 2: The government has raised gold import quota by five kilograms to 25 kg per day.

KATHMANDU, Sept 11: The Minister of Finance, Dr. Yubraj Khatiwada's speech while inaugurating the 2018 NADA Auto Show caught everyone off guard. Inaugurating the NADA Auto Show, a yearly exhibition of vehicles, including new ones, Khatiwada not just urged every one to reduce vehicle imports, he also had a tip to potential buyers: Don't buy vehicles by auto loans.

KATHMANDU, Sept 8: Prime Minister KP Sharma Oli has said that the import of sugar would be halted for time being as there was adequate stock in the country.

BIRGUNJ, Aug 5: Though the country has adopted a policy of using mass transit, the import of small vehicles is seen to be growing unabated.The import figure of the three-wheeler, locally known as tempo, via Birgunj jumped by 74 percent to 8,682 units in the Fiscal Year 2017/18, compared to the previous year. The total cost of these vehicles was Rs 1.28 billion. In the previous year, 4,989 units were imported.

INDIA, Aug 4: Indian authorities decided in June to increase import levy from August 4 on some US goods, including almonds, walnuts and apples, however, the move was later delayed.

Fertilizers import up 10 pc

June 7, 2018 03:00 am

KATHMANDU, June 7: The import of fertilizers (chemical and organic combined) in the first 10 months of the current fiscal year has surged by nearly half compared to import figures of the same period of Fiscal Year 2016/17.

Fuel import bill climbs 34%

May 12, 2018 09:03 am

KATHMANDU, May 11: The import of petroleum products has gone up significantly in the first three quarters of the current fiscal year, making it a prime contributor in further exacerbating the yawning trade deficit of the country with India.

KATHMANDU, April 24: Nepal's fuel imports surged by a massive 39.2 percent in first eight months of the current fiscal year compared to same period of Fiscal Year 2016/17, according to Department of Customs (DoC).

KATHMANDU, March 31: Minister for Finance Yuba Raj Khatiwada has said that increasing import of edible products that could have been produced in Nepal has been a matter of concern for the country.

KATHMANDU, Mar 1: Import of cement has been on a decreasing trend, at a time when talks about the country becoming self-reliant on cement are going on. Cement imports decreased by about 24 percent in the first half of the current fiscal year.

Import via Birgunj dry port increases

February 3, 2018 09:23 am

BIRGUNJ, Feb 3: Imports through Birgunj dry port is seen to be on the rise in recent months. The dry port based in Sirsiya, Birgunj, is the major port for importing goods from third countries.

KATHMANDU, Jan 18: At a time when the balance of payment (BoP) position of the country is weak, the government is preparing to raise import quota of gold.

KATHMANDU, Dec 30: The import of dry-cell batteries has plummeted since the launch of the 'Ujyalo Nepal Project' of Nepal Electricity Authority (NEA) in October 2016.

KATHMANDU, Dec 22: The government should move away from import-based taxation by lowering tariff rates if it wants to improve the import-to-export environment in the country, a recent report prepared by the World Bank Group states.

The government has collected more revenue from the auto sector compared to the target given in the first three months. Revenue collection from auto imports has exceeded the growth target by 3 percent in the first three months in the current fiscal year.

RASUWA, Sept 24: Nepal has imported only 55 sheep and mountain goats from the northern Rasuwagadhi border point this year. The import has dropped in comparison to the previous year as the price of livestock has gone up and the sheep and mountain goats are consumed in Tibet itself.

KATHMANDU, August 26: Revenue Secretary Shishir Dhungana on Friday said that swelling import has turned the country's economy upside down.

Tobacco import via Birgunj increases

August 13, 2017 09:08 am

BIRGUNJ, Aug 12: The import of tobacco via Birgunj border has increased by 68 percent in Fiscal Year 2016/17, in comparison with the previous fiscal year. According to the Birgunj Custom Office, 7, 803 tons of tobacco entered via Birgunj border in FY2016/17 while only 1,128 tons had entered in FY2015/16.

BIRGUNJ, Aug 1: More than 96 percent of containers that enter Nepal carrying third-country imports from Indian port have been returning to India empty for the past 13 years as they do not get goods for the return leg.

BIRGUNJ, June 11: The import of transformers in the country has drastically increased in this fiscal year in comparison to the last fiscal year. The import of transformers via Birgunj border in the first ten months of the current fiscal year has increased by 82 percent in comparison to the same period of the last fiscal year.