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Government Policy Having Little Impact on Import of Petroleum Products, Vehicles

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Government Policy Having Little Impact on Import of Petroleum Products, Vehicles
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January 28: Petroleum products and vehicles worth Rs 103.53 billion were imported in Nepal from the Brigunj Customs Point in the first six months of the current fiscal year 2018/19. This figure is an increase of 77 percent as compared to the data of the corresponding period of last FY.

Although the government has pledged to improve supply of electricity in order to reduce the import of petroleum products, the records maintained at the main customs point show the opposite result.

The country spent the maximum amount for purchasing petroleum products. The country relies on half of the total petroleum products imported from this customs point.

Manish Kumar Mahato, communication officer at the customs point, confirmed that there was an increase of import by 77 percent during the review period.

According to the data maintained by the customs office, the country imported 384,000 kiloliters of diesel, the highest among all petroleum products, during the review period. The cost of the total diesel import was Rs 28.12 billion, according to the customs office.

The government has classified vehicles as luxurious goods and imposed a very high tax on vehicles. Yet, this has had little impact on import of vehicles. The tax collected from the import of four-wheelers including jeeps, cars and vans has alone increased by 100 percent at the Birgunj Customs Point.

In the first six months of FY 2017/18, altogether 5957 vehicles worth Rs 4.99 billion were imported from Birgunj Customs Point. The figure stood at a staggering 9172 vehicles with a total worth of Rs 10.26 billion in the corresponding period of the current FY.

Vehicles fall among the top three revenue contributors to the state coffers, said Mahato.

 

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