KATHMANDU: The Minister for Supplies Shiva Kumar Mandal has vowed to take action against the business houses found to be involved in under pricing in imports.

Minister Mandal informed during a meeting with the Federation of Nepalese Chamber of Commerce and Industry delegation team led by President Bhawani Rana in the capital today.

"It is a legal matter, they would be booked under the current laws, no one would be spared if found guilty," Minister Mandal shared.

"Despite state presence, traders are giving wrong intent of who cares nature of their connection with highers authorities," Mandal adding questioned, "how have the customers been treated,".

During the meeting with the Minister, FNCCI President Bhawani Rana urged the government to give permission to run their businesses. She further said outlets image have been tarnished after the market monitoring team had sealed the shops in Darbarmarg.

In reply, Minister Mandal said the traders need to take care of their image before meddling into such acts.

Earlier, the government had sealed Nike, Puma, Store One and Bentley in Darbarmarg. The market monitoring team led by Minister for Supplies Shiva Kumar Mandal had sealed the shops.

The shops were found to be selling their items at an exorbitant rate. T

he market price of goods have been marked up by nearly 10 times than that disclosed at the customs points.

The price disclosed by the importers of such popular brands at the customs point is far lower than the market price, which is due to the 'under invoicing' in import.

Under invoicing in import not only hurts customs tariff, it also affects the collection of inland tax like value added tax (VAT) and income tax, shared Minister Mandal.