Nepal imports at the very least 70% sugar from India. File picture for illustration.
| Photo Credit: REUTERS
Ahead of the festive season, Nepal is about to import 20,000 metric tonnes (MT) of sugar from India, which meets at the very least 70% of the Himalayan nation’s home annual demand of roughly 3,00,000 MT.
In view of the upcoming festivals, together with Vijaya Dashami and Deepawali, the Ministry of Industry, Commerce and Supplies has requested the Finance Ministry to present customs waiver for importing 60,000 MT of sugar to satisfy the native demand. The Finance Ministry has, nevertheless, given permission to import solely 20,000 MT in the interim.
According to Finance Ministry spokesperson, Dhaniram Sharma, the Ministry has given 50% low cost on customs obligation, which suggests 15% much less from the sooner imposed 30% customs obligation.
Two corporations, Salt Trading Corporation (STC) and Food Management and Trading Company, each would import 10,000 MT sugar every for the upcoming pageant season, in keeping with Sharma. However, divisional supervisor of STC Brajesh Jha stated that it had requested the federal government permission to import 50,000 MT of sugar.
According to Mr. Jha, Nepal’s home demand for sugar stands at 3,00,000 MT and it must import an enormous amount of sugar primarily from India. There are 12 sugar factories in Nepal that produce round 1,00,000 MT of sugar.
According to an estimate, Nepal imports at the very least 70% sugar from India. Besides, hundreds of tons of sugars are introduced by way of unlawful channel with out paying customs obligation.
Sugar is out there within the black market in Kathmandu and the costs ranges from Nepali Rupees 100 to 125 per kg, the place because it prices round ₹40 – 50 in India.
Source: www.thehindu.com
