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ECONOMY

Commerce ministry seeks MoF’s approval for customs waiver on import of sugar

KATHMANDU, August 21: The government is importing 50,000 tons of sugar for the approaching Dashain and Tihar festivals to preempt any possible shortage of the sweetener during the festivals.
By Republica

Govt importing 50,000 tons of sugar for upcoming festivals


KATHMANDU, August 21: The government is importing 50,000 tons of sugar for the approaching Dashain and Tihar festivals to preempt any possible shortage of the sweetener during the festivals.


Related story

10 industries get approval to import sugar from India


According to the Ministry of Industry, Commerce and Supplies (MoICS), it has initiated a process to import the aforementioned amount of sugar by waiving the customs duty. An official of the MoICS said the ministry has already sent a letter to the Ministry of Finance for a customs waiver.


While the Food Management and Trading Company will be mandated to import 10,000 tons, the remaining amount will be imported by the Salt Trading Corporation. These government entities will be selling sugar at subsidized rates in the fair price shops to be operated for one month during the major festivals.  


After India imposed restrictions on the export of sugar, the price of the sweetener has increased up to Rs 110 per kg in the Nepali market.


 


 

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