No import of clothes, food items, vehicles, cosmetics

Many bigwigs have said that the situation in Nepal is not going to be the same as in Sri Lanka as the depreciation rate of foreign currency is declining in Nepal. In the midst of the covid epidemic, in July 2077, Nepal had foreign exchange for 15 months to buy foreign goods, but now the import of foreign currency with Nepal is less than six months.

There are three reasons for the decline in the rate of foreign exchange, the first is the rise of economic activity in the world after Covid, the second is the increase in economic activity within Nepal, people started buying luxury goods, the government increased the purchase of foreign goods, the third is foreign. Imports of currency are declining, Nepali citizens are not allowed to go abroad, tourists are not allowed to come to Nepal, due to non-export of Nepali goods, the short rate of foreign exchange with Nepal has come down a lot.

Nepal’s import capacity has been declining by 15% every day since last July. As of February, only 9.4 trillion foreign exchange reserves have been depleted. Five months of imports from Yash can be sustained. If this situation continues, Nepal will not be able to buy even medicines from abroad. .

Thirty-one years ago, India had reached the point of not even buying excessive commodities, not even three weeks. Such problems exacerbate an import-dependent crisis like ours. It is becoming more and more difficult for us to buy essential commodities like pulses, sugar and oil instead of ingredients like chocolate. India has a way to solve such problems with Nepal, which is why Nepal did not have to face so many problems even during the lockdown.

The National Bank of Nepal (NBN) has tightened its grip on imports, calling on the executive directors of all commercial banks on Monday, urging them not to open a circular on imports of luxury goods. The National Bank of Pakistan (NBP) has sought to tighten its grip on imports of food items, cloths, vehicles, jewelery, beauty products, construction materials and mobiles. He also said that toys, dairy products and plastics cannot be brought in as desired.

Leave a Reply