CVD concerns FNCCI

KATHMANDU: FNCCI has expressed its serious concern over the issue of four percent additional duty charge on maximum retail price (MRP) on Nepali garment export to India. “Counter Valuing Duty (CVD) has hit Nepali garment sector,” it said adding that the business community has expected it to be lifted after the signing of bilateral trade treaty this week. The umbrella organisation of the Nepali private sector has requested both the governments to make arrangements to provide preferential treatment facility for the sector. India has been major market for Nepali garment sector in recent years. But the CVD has dogged it and FNCCI expects that the issue is resolved before the Nepal-India Inter-governmental meeting in November.