The government has finally lifted the ban on the import of vehicles imported for private purposes and motorcycles above 150c The cabinet meeting held today decided to lift the ban on the import of vehicles after December 15, 2022.

The ban on the import of ten types of consumer goods including motorcycles above 250cc and petrol/diesel cars was enforced from April 27, 2022. Similarly, the government added two-wheelers above 150cc to the import ban list from July 17, 2022.

The ban on the import of private vehicles and motorcycles above 150cc was extended time and again citing the depleting foreign exchange reserves and other contributing factors. NADA Automobiles Association of Nepal (NADA), the governing body of automobile dealers in Nepal, had been continuously requesting the government to ease the ban on the import of private vehicles and motorcycles, but to no avail. Hence, the organization was forced to announce a protest movement against the import ban and Nepal Rastra Bank’s policies.

However, the policies brought by Nepal Rastra Bank (NRB) in matters related to the automobile businesses, such as a 50 percent limit on hire purchase loans, increase in risk weight, increase in securities margin, etc, still remain a roadblock for the Nepalese automobile sector.