The Nepal government has announced plans to import 20,000 metric tonnes (MT) of sugar ahead of upcoming festive season, which includes Vijaya Dashami and Deepawali, to meet the surging domestic demand, reported My Republica.
Though the Ministry of Industry, Commerce, and Supplies had made a request to the Finance Ministry for a customs waiver to import 60,000 MT of sugar to address local demand, the Finance Ministry has granted permission to import only 20,000 MT for the time being.
According to a statement by Finance Ministry spokesperson Dhaniram Sharma, the Ministry has offered a 50 percent discount on customs duty, effectively reducing the previously imposed 30 percent customs duty by 15 percent.
Two prominent companies, Salt Trading Corporation (STC) and Food Management and Trading Company, have been designated to import 10,000 MT of sugar each for the upcoming festival season.
