January 13: Customs clearance of new vehicles has increased at the entry points after banks lowered interest rates on vehicle loan. The number of inspection passes for new vehicles is growing gradually in Birgunj, which is the main checkpoint for importing vehicles.
In the past, importers used to park their vehicles at the customs premises for a long time. According to the Nepal Intermodal Transport Development Committee (NITDB), which operates the Integrated Check Post (ICP) in Birgunj, only 187 vehicles are left to pass the clearance at the ICP as of January 11.
NITDB chief Kamal Gyawali informed that the number of vehicles being released from customs has increased from 250 to 300 within a few months. In the past, the importers reluctant to pass the customs clearance of their vehicles.
According to the customs office, the importers have now lined up for vehicle inspection.
ICP Customs Information Officer Sumit Gupta said that the number of new vehicles being released from the customs has increased recently.
“Vehicle inspection passes from the customs office have increased since some time. The importers have swiftly started releasing the vehicles brought to the checkpoint,” Information Officer Gupta told New Business Age.
The Customs Act has a provision that vehicles entering the country must be inspected within 60 days. There is an arrangement for customs office to auction the vehicles that have not passed inspection within the stipulated time.