FNNTE urges finance minister to grant customs duty concessions on EV parts

KATHMANDU: Federation of Nepalese National Transport Entrepreneurs (FNNTE) has urged Finance Minister Dr Swarnim Wagle to grant concessions on customs duty for parts imported for electric vehicles. The federation said such concessions would encourage an environmentally friendly transport system.

A delegation led by Punya Prasad Sitoula, president of the FNNTE, submitted an 11-point memorandum to the finance minister on Monday and requested immediate measures to address problems in the transport sector.

The FNNTE said the sector represents investments of about Rs 13 billion and supports the livelihoods of four million families. It asked the government to implement the findings of the probe commission led by former government secretary Deepak Subedi and to ensure a timely revision of the Motor Insurance Rate Directive 2073, with guidance to the Insurance Authority.

The memorandum proposed establishing an accident relief fund financed by an additional fee of Re 1 per litre on fuel (diesel and petrol) and Re 1 per unit on electric vehicles, supplemented by 1% of insurance premiums and further government contributions.

Other demands included stricter controls on vehicle imports, ending the 72-hour facility for Indian freight and passenger vehicles, amendments to the Company Act and the introduction of a uniform tax system. The federation also called for the creation of a strong transport authority to regulate and develop the sector and asked the government to reconsider operating hours for tippers and lorries in the Kathmandu Valley.

Receiving the memorandum, Finance Minister Dr Wagle said the government would address the sector’s genuine concerns. "The ministry would conduct a necessary study on the transport entrepreneurs' demands and take appropriate steps accordingly," the minister said.

By RSS