September 23: The government has started a study to find the pros and cons of stopping the import of vehicles that run on petroleum products. The Ministry of Finance has formed a committee under the coordination of the revenue secretary to determine the time required to stop the import of vehicles that run on fossil fuel.
The committee will recommend the government when to stop the import of petroleum-backed vehicles in Nepal to encourage the use of electric vehicles. Such a decision was taken due to the sudden increase in the fuel prices.
Speaking at the opening ceremony of NADA EV Expo 2022, which kicked off at Bhrikutimandap in Kathmandu on Thursday, Finance Minister Janardan Sharma said that the study is being conducted with the aim of setting a timeframe to stop the import of petroleum vehicles in Nepal.
He said that the government plans to ban the import of petroleum vehicles after holding discussion with all stakeholders. This year’s NADA Auto exhibition is also completely focused on electric vehicles. NADA organized an auto expo focusing on electric vehicles after the government banned the import of vehicles that run of petroleum products. The finance minister said that there is no scarcity of electricity in Nepal and therefor automobile dealers should focus on the import and sale of electric vehicles in the future.
“Vehicles that run on petroleum products is extensively used in Nepal. As a result, Nepal imports petroleum products worth Rs 300 billion annually. Therefore, we have to think of alternative measures,” said Minister Sharma.
Electric vehicles with prices ranging from Rs 3.1 million to Rs 25 million have been displayed in the exhibition.
Anup Baral, co-ordinator of Nepal NADA EV Expo 2022 said that it is estimated that about 40,000 people will visit the ongoing exhibition. In the exhibition, there are 50 stalls of various companies. This is the first time that there has been an exhibition of only electric vehicles in Nepal.