Market regulator warns of strict action against onion black marketeers

Market regulator warns of strict action against onion black marketeers
Onion Picture
By Aachal Pokharel
Published: November 24, 2024 07:37 PM

KATHMANDU, June 16: The Department of Commerce, Supplies, and Consumer Protection (DoCSCP) has issued a stern warning to traders involved in the black market for onions, emphasizing that strict action will be taken against them. 

 

In a public notice released on Friday, the market regulator cautioned traders against artificially inflating onion prices by citing a shortage in the domestic market. The notice stated, "If anyone violates the government laws pertaining to import, supply, storage, and sale, they will be subject to legal action under the Consumer Protection Act 2018."

Following the government's announcement in the budget to impose a 13 percent Value Added Tax (VAT) on imported potatoes and onions, several unscrupulous traders have created artificial shortages in the local market, resulting in a significant price surge for these vegetables, with prices nearly doubling in the past two weeks.

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