Govt to import 20,000 tons of sugar targeting festivals

KATHMANDU: In preparation for the forthcoming festivals, the government has taken a decision to import 20,000 tons of sugar while offering a significant 50 percent customs duty discount.

This decision has been reached following a proposal put forward by the Ministry of Industry, Commerce, and Supplies.

During a recent Cabinet meeting, it was officially authorized for both the Salt Trading Corporation and Food Management and Trading Company Limited to import 10,000 metric tons of sugar, each benefiting from a substantial 50% customs duty reduction.

Currently, sugar incurs a 30 percent customs duty in Nepal.

However, in an effort to enhance the accessibility and affordability of this essential commodity during the festive season, the Cabinet has sanctioned a 50 percent customs duty exemption for the two designated companies entrusted with the importation of the 20,000 tons of sugar.