Government Cuts Customs Duty on Petroleum Products by 50% Amid Rising Global Prices
Summary
The Government of Nepal has cut customs duty and infrastructure development tax on petroleum products by 50% to ease the impact of rising global fuel prices.
Key Points
- The Government of Nepal has decided to reduce customs duty on petroleum products by 50%.
- The reduction applies to customs duty and infrastructure development tax on petrol, diesel, and kerosene.
- The decision aims to stabilize domestic fuel prices amid rising international fuel costs due to Middle East conflicts.
- The government expects the measure to mitigate inflation and support sectors dependent on fuel such as transportation and industry.
