Kathmandu, November 22

The import bill of petroleum products dropped heavily in the first three months of this fiscal due to the continuous disruptions in the supply line at the Nepal-India border points.

The country imported petroleum products worth Rs 13.58 billion in the first three months, which is a drop of 56 per cent as compared to the corresponding period of the previous fiscal, according to recent data from Nepal Rastra Bank. The country had imported petroleum products worth Rs 30.86 billion in the same period of last fiscal. The significant drop in the import of petroleum products has created a severe fuel crisis in the country since the last two months.

Import of petroleum products has dropped significantly in the last two months since the Tarai-based political parties started a blockade campaign at the border points. The country had imported petroleum products worth

Rs 6.73 billion in the first month of this fiscal. The total import of the last two months is nearly equal to the import bill of the first month. In the last two months the country imported petroleum products worth Rs 6.85 billion. In the last month of the review period, the country imported petroleum products worth only Rs 2.05 billion.

Along with the significant drop in imports and exports due to blockade at border points with southern neighbour India, Nepal’s foreign trade has badly been affected because the country uses India as transit for third-country trade. As per the central bank, imports have decreased by 31.9 per cent and exports have dropped by 25.4 per cent as compared to the corresponding period of the previous fiscal. The country’s total import stood at Rs 130.49 billion against exports of Rs 16.81 billion during the review period.

The country’s imports have dropped every passing month as the agitating parties have intensified their protests at border points. Total import bill stood at Rs 62.08 billion in first month, which dropped to Rs 44.22 billion in second month. It further decreased to Rs 24.38 billion in the third month.