NADA Calls On The Prime Minister To Discuss Issues On The Opening Of LC and Import Ban

A four-member delegation led by NADA Automobiles Association of Nepal (NADA) Chairman Dhruba Thapa met with Honorable Prime Minister Sher Bahadur Deuba to discuss issues related to the government's ban on opening of Letter of Credit (LC) and the ban on the import of automobiles and spare parts business.

A team led by NADA Chairman Dhruba Thapa, General Secretary Surendra Kumar Upreti, Treasurer Milan Babu Malla and Vehicle Committee Chairman Nirakar Shrestha called on the Prime Minister to discuss the same.

During the meeting, Chairman Thapa said that the automobile sector of Nepal has more than an investment of Rs 2 trillion, with a yearly revenue contribution of Rs 1 trillion 50 billion and employment of more than 50,000 people. However, the recent ban by banks and financial institutions regarding the opening of Letter of Credit (LC) and the import ban has seriously discouraged automobile importers in the country.

During the discussion, the Hon'ble Prime Minister took the suggestions of NADA positively and assured that instructions would be given to the concerned bodies for obtaining necessary information regarding the recent ban.