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			'summary' => 'January 21: Proprietors of packaging industries of Nepal were excited after the government in its annual budget for the current fiscal year announced refund of Value Added Tax (VAT) on packaging materials purchased by pharmaceutical companies from local industries. ',
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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NEWS

Government’s VAT Rebate for Home-Grown Packaging Industries Limited to Paper

‘Government Fails to Protect and Promote Local Industries’

Jan 21, 2021 3 min 0 sec to read

Government’s VAT Rebate for Home-Grown Packaging Industries Limited to Paper

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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January 21: Proprietors of packaging industries of Nepal were excited after the government in its annual budget for the current fiscal year announced refund of Value Added Tax (VAT) on packaging materials purchased by pharmaceutical companies from local industries. The local packaging industries were happy that the government fulfilled their demand after 17 years. But their excitement was short lived.

The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.

The pharmaceutical industries were not happy with the government’s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.

He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.

The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.

Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.

One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.

Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.

Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.

“The government must charge at least one level less for raw materials,” said Amatya.

Complaint Filed at CIAA Against Kulman Ghising

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

<p>&nbsp;</p>
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<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

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		'title' => 'Government’s VAT Rebate for Home-Grown Packaging Industries Limited to Paper',
		'sub_title' => '‘Government Fails to Protect and Promote Local Industries’',
		'summary' => 'January 21: Proprietors of packaging industries of Nepal were excited after the government in its annual budget for the current fiscal year announced refund of Value Added Tax (VAT) on packaging materials purchased by pharmaceutical companies from local industries. ',
		'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 21: Proprietors of packaging industries of Nepal were excited after the government in its annual budget for the current fiscal year announced refund of Value Added Tax (VAT) on packaging materials purchased by pharmaceutical companies from local industries. The local packaging industries were happy that the government fulfilled their demand after 17 years. But their excitement was short lived.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The packaging industries have become disappointed after the pharmaceutical industries did not buy the local products.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries were not happy with the government&rsquo;s decision to provide VAT rebate to packaging industries, according to Rabindra Barnawal, managing director of Print Pack Industry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He informed that the government announced to provide VAT rebate on purchase of raw materials as well as locally-manufactured packing materials. However, pharmaceutical industries are least interested to take benefit from this facility.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The pharmaceutical industries did not purchase such materials from the local companies as they are also getting customs duty waiver and VAT rebate on materials imported from other countries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Pharmaceutical companies need to pay only 1 percent excise duty for the import of raw materials and packaging materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">One of the owners of a pharmaceutical industry said that they would have considered purchasing local product if the price had been relatively less. But he insisted that there is not much difference in price and therefore they opted for imported materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Currently, 15 packaging industries have invested around Rs 4 billion. Barnawal says that they have to import raw materials for manufacturing packaging materials at higher cost and that has increased the cost factor of the finished product. While the pharmaceutical companies need to pay only 1 percent excise duty for importing raw materials and packaging materials, the local packaging industries of Nepal have to pay 13 percent VAT and 15 percent customs duty for importing raw materials.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, operator of Matrix Printers Arbind Amatya says that the government has failed to adopt a policy to protect and promote local industries.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The government must charge at least one level less for raw materials,&rdquo; said Amatya.</span></span></span></span></p>

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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00

Update : 2020-03-25

Government’s VAT Rebate for Home-Grown Packaging Industries Limited to Paper

‘Government Fails to Protect and Promote Local Industries’

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