Ahead of the festive season, Nepal is set to import 20,000 metric tonnes (MT) of sugar from India, which meets at least 70% of the Himalayan country’s domestic annual demand of approximately 3,00,000 MT.
In view of the upcoming festivals, including Vijaya Dashami and Deepawali, the Ministry of Industry, Commerce and Supplies has asked the Finance Ministry to give customs waiver for importing 60,000 MT of sugar to meet the local demand. The Finance Ministry has, however, given permission to import only 20,000 MT for the time being.
According to Finance Ministry spokesperson, Dhaniram Sharma, the Ministry has given 50% discount on customs duty, which means 15% less from the earlier imposed 30% customs duty.
