Government Slashes Customs Duty for Festival Sugar Imports

In anticipation of the upcoming festive season, the government has taken a significant step to ensure an ample supply of sugar. Following a proposal by the Ministry of Industry, Commerce, and Supplies, the Cabinet has approved the importation of 20,000 tons of sugar with a generous 50 percent customs duty discount.

During a recent Cabinet meeting, it was officially authorized for both the Salt Trading Corporation and Food Management and Trading Company Limited to import 10,000 metric tons of sugar each, making the most of the substantial 50% customs duty reduction.

Currently, sugar incurs a 30 percent customs duty in Nepal. However, to improve the accessibility and affordability of this essential commodity during the festive season, the Cabinet has granted a 50 percent customs duty exemption for the two designated companies responsible for importing the 20,000 tons of sugar.