Oil flows increases as restrictions at border got ease

Kathmandu January 4- Petroleum imports rose in the fifth month of the fiscal year after India loosened its strong hold on shipments for the first time since imposing a devastating trade blocakade on September 22.

The Trade and Export Promotion Centre (TEPC) said oil flows swelled to Rs4.45 billion during the period mid-November to mid-December after having sunk to Rs1.97 billion and Rs1.53 billion respectively in the previous two months.

Deputy Director General of the DoC Damodar Regmi said that more than 100 oil tankers were entering the country daily compared to 300 tankers in the past.

 

According to the DoC, there has been improvement in overall imports after India relaxed sanctions with the government deciding to address the demands of the agitating Madhesi parties and talks between the two sides heading in a positive direction.

Regmi said that around 1,000 trucks were presently entering Nepal daily which is a big jump from the few hundred trucks daily when the embargo was in full force. In happier days, around 2,000 goods-laden trucks would be rumbling across the border into Nepal daily.

No formal imports of goods have taken place through the customs offices in Birgunj, Rajbiraj, Gaur, Sarlahi, Jaleshwor, Janakpur and Krishnanagar, according to the DoC. Birgunj accounts for 60 percent of the total imports and 50 percent of the total customs revenue collection.

According to Regmi, revenue collection at the customs offices has improved with a rise in cargo traffic. Revenues have increased to more than Rs400 million daily, but still well below the Rs500-600 million daily in the past. Source: TKP