Kathmandu [Nepal], December 3 (ANI): Traders in Nepal are facing delays and inconsistencies in import orders from China, leading to unprecedented monetary losses.
Despite China's assurances to increase the number of containers for imports, they have failed to execute the plan. China's withholding of trucks and containers at the Nepal-China border has become a concern for traders in Nepal, leading to delays and disruptions.
Statistics show a decline in exports to China from the past three years. According to the Trade and Export Promotion Centre, exports in the last fiscal year 2020-21 fell by 14.7 per cent from 2019-20 to Rs1 billion, reported The Kathmandu Post.
Although, imports have ramped up since the last fiscal year, from Rs 60.12 billion to Rs 94.30 billion during the initial four months of the present fiscal year, reported The Kathmandu Post.
"A meeting was held with China's TAR Port and commerce-related authorities. Discussions were made to increase the number of cargo going to Nepal from Kerung and facilitating the speedy movement of fertiliser among others. TAR authority assured that they will increase the trucks to 20 trucks from Tatopani, facilitate the transport of 15,000 tonnes of fertiliser cargo and study to increase cargo from Kerung," Nepali Consul General in Lhasa Navaraj Dhakal tweeted recently.
The President of the Nepal National Traders' Federation, Naresh Katuwal told The Kathmandu Post, "Though China has been assuring us that it would increase the number of containers, it remains as a promise only."
The under-secretary at the Ministry of Industry, Commerce and Supplies, Urmila KC revealed that despite China's approval to increase the number of containers to 14-15 per day, the traders in Nepal deny its execution and implementation.
Due to China holding up shipment orders, traders are enduring unnecessary delays and disruptions in delivery, ramping up transportation expenses, reported The Kathmandu Post.
A case of delays and disruptions in trade was witnessed by a trader Dorje Lama of Bhotekoshi Rural Municipality, Listikot. An import order was placed with a Chinese company for readymade clothes in mid-August.
The shipment was expected to reach within two weeks of placing the order and before the Dashain shopping season when Nepal usually witnesses the year's biggest buying spree, reported The Kathmandu Post. The goods were delivered two months later, leading to financial losses.
As reported by The Kathmandu Post, they were stranded for nearly two months at the Chinese border town of Khasa while Lama fretted on the Nepal side of the border. (ANI)