KATHMANDU, MARCH 22
After nearly a one-year gap, the government has decided to allow import of expensive vehicles.
Issuing a notice on Nepal Gazette today, the government has allowed import resumption of vehicles worth more than $50,000. The import of vehicles worth more than $50,000 was halted since March 29 last year.
With a policy of allowing import of only essential goods, the government had halted import of expensive vehicles last year.
After the COVID-19 cases surged across the world and most of the countries imposed lockdowns to curb the spread of infection in their respective countries, Nepal had also imposed a nationwide lockdown on March 24.
The government had halted the import of expensive vehicles aiming at preventing the depletion of country's foreign exchange reserve. Back then, the government had also reduced the quota for gold import from 20 kg to 10 kg per day. The government had even halted the import of dry fruits, alcohol and other expensive goods.
However, even after the government allowed resumption of import of other items, the ban on expensive vehicles and gold import quota had been continued.
With today's notice, the import of expensive vehicles can now be resumed.
Meanwhile, the gold dealers have been urging the government to increase the quota on gold import. The government is yet to take any decision on the matter.
A version of this article appears in the print on March 23, 2021, of The Himalayan Times.
