Government takes bold step to support domestic vehicle manufacturers
The government of Nepal has taken a significant step towards the growth of the domestic automobile industry by amending the Transport Management Procedures Guidelines 2060 BS.
The amendment is aimed at removing the legal barriers that previously hindered the registration of vehicles manufactured and assembled within Nepal. The latest move by the government came in response to warnings from the Nepali electric two-wheeler company, Yatri Motorcycles, which faced difficulties in continuing its production due to the older rules that prevented the registration of domestically made vehicles.
The Prime Minister of Nepal, Pushpa Kamal Dahal, instructed the relevant authorities to review and amend the guidelines to remove the legal complexities that domestic vehicle manufacturers faced. As per the revised guidelines, the Department of Transport Management (DoTM) issued a notice on Thursday, stating that manufacturers can now register their vehicles, including electric, petrol and diesel vehicles made in Nepal. The DoTM added a new point ‘11.1.9’ to the guidelines, allowing for the registration of vehicles assembled in Nepal using parts imported from abroad or fully manufactured within the country.
Furthermore, the amendment of the guidelines has exempted producers from submitting proof of opening the letter of credit (LC) for vehicle registration. The revision of the guidelines has cleared the way for all types of electric, petrol and diesel vehicles manufactured in Nepal to be registered, thereby paving the way for the growth of the domestic automobile industry.