Nepal Imports Prohibitive

Nepal’s Revenue Secretary Shishir Dhungana says that swelling import has turned the country’s economy upside down. Responding to a query raised by member of parliament, Bikash Lamsal, Dhungana painted a gloomy picture of the economy, stating that import was growing at an alarming rate, while export continues to grow at a disappointingly slow pace, myrepublica reported. Speaking at a discussion on issues related to revenue at the meeting of the parliament’s public accounts committee, Dhungana said that country’s total export earning is insufficient to finance import of a single import commodity—petroleum products. “Our trade deficit stands at a whopping Rs 803 billion ($7.84 billion),” he said.