Luxury import ban closes 58 auto sellers’ enterprise

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Photo for illustration solely

Kathmandu, November 10

NADA Automobiles Association of Nepal, an umbrella organisation of auto sellers throughout the nation, says the continued luxurious import ban has closed 58 companies within the auto sector. Likewise, 100 others are on the verge of closure.

Here is the province-wise distribution of closed companies:

Province Number of companies closed
Province 1 9
Madhesh 11
Bagmati 18
Gandaki 7
Lumbini 3
Karnali 7
Sudurpaschim 3
Total 58

Currently, there are 1,025 car sellers in operation throughout the nation.

NADA General Secretary Surendra Kumar Upreti says the federal government’s choice to increase the ban has additional put the auto sellers’ enterprise in problem. “We have been incessantly urging the federal government to take away the ban,” he says.

With the closure of the companies, greater than 1,000 employees throughout the nation had been faraway from their jobs, in keeping with NADA.

The authorities has banned the imports of automobiles, besides digital ones, in a bid to avoid wasting international trade reserves.

Meanwhile, the affiliation says rising rates of interest on loans by banks and monetary establishments have additionally added to their issues.