Skip to content
|Loading...
Share Gyan home
EBook

Korala Border Sees Import Surge as Mustang Customs Collects NRS 1.78 Billion in 15 Days

Mustang Customs collected NRS 1.7844 billion in revenue in just 15 days as imports through the northern Korala border surged following the closure of the Rasuwagadhi–Kerung and Tatopani crossings.

Published By Share Gyan
Korala Border Sees Import Surge as Mustang Customs Collects NRS 1.78 Billion in 15 Days

Revenue collection at the Mustang Customs Office at Nechung, Lomanthang-4, has surged following a sharp increase in imports through the Nepal–China Korala border. The customs office collected NRS 1.7844 billion in revenue over the past 15 days, as traders increasingly shifted to the Korala crossing after major northern trade routes were disrupted. The Rasuwagadhi–Kerung border was completely closed following floods in the Bhotekoshi River in Rasuwa, while the Tatopani crossing was also affected by flood and landslide-related road disruptions. As a result, the movement of Chinese goods and electric vehicles through Korala has increased significantly. Mustang Customs Chief Bidur Chudal said the office collected NRS 271.1 million in revenue on Friday alone. Since Bhadra 22, daily revenue collection at the border has averaged around NRS 300 million. On Friday, customs clearance was completed for 71 containers and 106 electric vehicles (EVs), which subsequently headed toward their destinations. From Bhadra 10 to Bhadra 25, a total of 434 containers and 641 EVs entered Nepal through the Korala border and completed customs clearance. During the current fiscal year 2083/84, from Shrawan through Bhadra 25, Mustang Customs has collected a total of NRS 2.3144 billion from vehicles and goods imported through the Korala border. By Bhadra 9, only 133 containers and 163 EVs had entered Nepal through the crossing. The Korala border, which had previously been primarily accessible to residents of Upper Mustang, was opened as an alternative import and export route after floods and landslides disrupted roads connecting the Tatopani and Rasuwagadhi crossings. In fiscal year 2082/83, Mustang Customs collected NRS 6.92 billion in revenue from imports and exports through the northern Korala border. During the year, imports worth NRS 14.41 billion and exports worth NRS 205 million were recorded, while customs clearance was completed for 3,223 EVs and 1,873 containers.

Gold Price Plunges by Rs. 5,900 Per Tola on Dhanteras; Silver Also Declines

Gold and silver prices recorded a sharp decline in the Nepali market on Friday, Kartik 20, coinciding with Dhanteras. Gold fell by Rs. 5,900 per tola to Rs. 283,000, while silver dropped by Rs. 110 per tola.

Nepal's VAT Collection Exceeds Target as Consumer Reward Scheme Boosts Tax Compliance

Nepal's VAT collection exceeded its first-quarter target in FY 2083/84, reaching Rs. 41.04 billion, up 10% compared to the same period last year. The increase comes after the Inland Revenue Department introduced a consumer reward scheme encouraging people to demand bills when making purchases.

Nepal Estimates $5 Billion Needed for Reconstruction After Bhotekoshi-Trishuli Disasters

Finance Minister Dr. Swarnim Wagle has estimated that Nepal will require approximately $4.7 billion to $5 billion for reconstruction following the disasters in the Bhotekoshi and Trishuli regions. The government is preparing a phased financing plan, including financial support from India, China, the World Bank and the Asian Development Bank (ADB).

Maya Khola Hydropower's Net Profit Surges 124.52% to Rs 6.38 Crore in Q1

Maya Khola Hydropower Company Limited (MKHC) has reported a 124.52 percent increase in net profit, earning Rs 6.38 crore in the first quarter of FY 2083/84, compared to Rs 2.84 crore in the same period last year. Higher electricity sales revenue and lower interest expenses supported the company's improved profitability.

Khani Khola Hydropower Turns Profitable, Reports Rs 3.65 Crore Net Profit in Q1

Khani Khola Hydropower Company Limited (KKHC) has made a remarkable financial turnaround, reporting a net profit of Rs 3.65 crore in the first quarter of FY 2083/84, compared to a net loss of Rs 1.89 crore in the same period last year.

Kalinchowk Darshan Reports Higher Quarterly Loss as Flood Disrupts Tourism

Kalinchowk Darshan Limited (KDL) reported a net loss of Rs 4.596 million in the first quarter of FY 2083/84, up from Rs 3.386 million in the same period last year. The decline was largely attributed to the devastating Bhotekoshi floods, which disrupted road access and reduced tourist arrivals.