Kathmandu, July 15 : Ministry of Industry, Commerce and Supplies has made a decision to bring those commodities that were already under the process of import before a ban was imposed last month. It made such decision by issuing a notice issued recently in the Nepal Gazette.
According to the ministry, the import restriction will not be applicable to those commodities which were in the process of import or export like opening of the letter of credit (LC) in a bank.
On June 17, the ministry had imposed restriction on the imports of a number of commodities including soft drinks. In line with this, the customs offices across the country had stopped consignments of those restricted goods from entering into the country. There was complete and quantitative restrictions on the import and export of a number of commodities.
Importers have since been lobbying with the government for the entry of those goods.
The importers and local industrialists said the sudden ban caused a huge loss for them as they had already started the process of imports of those restricted commodities.
According to the new notice, the import restriction will not become applicable for those commodities which were in the process of import or export like opening of the letter of credit (LC) in a bank.
Through the notice on June 17, the government imposed complete and quantitative restrictions on the import and export of a number of commodities.
According to the officials, the restrictions were aimed at combating the widening trade deficit of the country, which is threatening the external position of the country.