Sunday, 12 January, 2025
By A Staff Reporter
Kathmandu, Feb. 9: Nepal Chamber of Commerce said on Tuesday that the policy to manage 100 per cent cash margin while opening the Letter of Credit (LoC) is against the spirit of the liberal economy.
Stating that its attention was drawn to the complexities created by the policy in import business, it said that the policy would hit on the confidence of the private sector while it is struggling for the business revival.
“Provision to maintain cash margin for imports will create new challenges, increase the cost of goods, and in the long run will decrease the competitiveness of Nepali goods.
Likewise, the NCC objected to the policy to charge high customs duty in goods import. This is against the norms of liberal economy and World Trade Organisation’s policy, it said in a statement.
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