Govt provides Rs. 50 m to NTL to import sugar for festivals

The government has decided to provide Rs. 50 million as loan to the National Trading Limited (NTL) to ease the supply of sugar during the upcoming festive season Dashain, Tihar and Chhat.

The cabinet meeting on Thursday took the decision to this effect to provide Rs. 50 million to the cash-strapped NTL to import the sugar for the festivals to avoid its shortage.

The NTL will use the amount to import 5,000 tonnes of sugar. However, the amount is not sufficient to import such quantity of sugar, according to NTL.

The government has permitted Salt Trading Corporation (STC) and NTL to import 20,000 tonnes of sugar at 1 percent custom duty in a view to ease the supply of sugar in the market during the upcoming festive season. Nepalnews.com