KATHMANDU, March 30: Nepal Rastra Bank (NRB) has permitted banks and financial institutions to open letters of credit (LC) accounts for the imported goods that are to be transported to the newly-built Chobhar Dry Port in Kathmandu.
Issuing a revised unified directive on Tuesday, NRB has allowed importers to get related documents if they wish to transport the imported goods to the dry port which is going to come into operation soon. Besides, the central bank has also permitted the traders to switch their import destination to the new dry port although they have already opened the LC accounts for Nepal-India borders that include Mechi, Biratnagar, Birgunj, Sirsiya dry port and Bhairahawa customs point.
NRB directs BFIs not to open LC for importing banned products
Constructed on the land earlier occupied by Himal Cement Factory, the dry port has been built in 230 ropanis of land. The newly-built infrastructure is expected to reduce customs related hassles for traders.
The infrastructure, which has been built at a cost of Rs 2.18 billion, can accommodate around 500 containers at a time. The Nepal Intermodal Transport Development Board is set to operate the newly-built dry port at Chobhar for the time being.
