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Machhapuchre Bank

Nepal pays more to import petrol

By Our Reporter
Petrol has the biggest share in the total import of Nepal. It is because of the increasing number of vehicles in the country.
According to Nepal Rastra Bank, the nation imported goods worth Rs. 1100 billion in the first 10 months of the current fiscal year and the country spent Rs 200 billion in the import of petrol.
Growing use of luxury items is not a good sign of economy. Moreover, almost all vehicles plying in the roads of Nepal are imported as Nepal does not produce the vehicles on its own. However, the government has done nothing to control the import of vehicles in the hope of receiving more revenue because an importer of vehicles pay as much as 200 per cent of tax on each imported item.

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