PM Oli Positive About Addressing Issues in Nepal's Automobile Sector
A delegation led by NADA Automobiles Association of Nepal's Chairman Karan Chaudhary met with the Right Honorable Prime Minister, Mr. KP Sharma Oli, to discuss various issues related to the Nepalese automobile sector.
During the meeting, Chairman Chaudhary briefly addressed the different problems facing the automobile industry and how various government policies are discouraging business operations. He presented policy recommendations aimed at uplifting Nepal's automobile industry.
In the discussion, Chairman Chaudhary emphasized the need to revitalize the automobile industry by increasing the Loan to Value Ratio for private vehicle hire purchase loans from the current 50% to 75%. He suggested that the guidelines for working capital loans, implemented in 2079, should apply only to loans taken after the implementation date, while those taken before should be exempt. This approach, he argued, would solve all the problems.
Additionally, Chairman Chaudhary pointed out that while the import of electric vehicles in Nepal is increasing, the construction of charging stations along highways and in cities is not keeping pace. He urged the government to establish permanent policies and regulations regarding electric vehicles in Nepal.
During the same discussion, Chairman Chaudhary addressed the issue of taxes on two-wheeled vehicles. He noted that currently, taxes are applied from the day the importer bills the dealer, but he proposed that taxes should instead be applied from the day the dealer bills the customer.
He highlighted that over 98% of two-wheeled vehicles imported into Nepal are manufactured in India. However, the size of the embossed number plates currently used in Nepal differs from the size used in India. This discrepancy causes the number plate to hit the front forks during vehicle operation, posing a safety risk for the driver. Therefore, he requested that regulations be adjusted to allow the use of either the Indian-sized embossed number plate or the current Nepali-sized embossed number plate.
During the meeting, NADA General Secretary Surendra Kumar Uprety provided insights into the problems and challenges faced by Nepal's automobile industry.
The Honorable Prime Minister expressed special interest and curiosity about the current state of the vehicle, tire, tube, battery, and lubricant industries. He assured that necessary steps would be taken to address the presented issues. The discussion was also attended by NADA Treasurer Milan Babu Malla and Association Secretary Surendra Pradhan.
