House panel tells govt to waive off duty for import of 50,000 tons of sugar

KATHMANDU: The Industry, Commerce, Labour, and Consumer Interest Committee of the House of Representatives has instructed the Ministry of Finance to waive customs duties on sugar imports.

The committee has called on the ministry to exempt Value Added Tax (VAT) and impose only a one percent duty for the import of 50,000 tons of sugar. The House panel issued the directive in response to a request from the Ministry of Industry, Commerce, and Supplies, with the aim of ensuring a smooth supply of sugar for the upcoming festive season.

Previously, the ministry had asked the finance ministry for a tax waiver on the import of 50,000 tons. However, the finance ministry granted only a 50% customs duty waiver for the import of 20,000 tons. The ministry intends to import 10,000 tons each through the Salt Trading Corporation and the Food Management and Trading Company.

The government currently imposes a 30% customs duty on sugar imports.

Industry Secretary Madhu Kumar Marasini informed the House committee that the ministry has requested India to supply 50,000 tons of sugar and has received a positive response, reported news agency RSS.