Nepal Ban on Luxury Goods May Increase Counterfeits

An April 2022 government-imposed ban on imported goods categorized as luxury items intended to curb the outflow of dwindling foreign exchange reserves will remain in effect until mid- July 2022, but traders are cautioning that contraband could flood the country to placate market shortages.

“As the government has ordered 100 percent margin amount to open a letter of credit to import alcohol, illegal imports through the open border with India have proliferated”, one businessperson told The Kathmandu Post.

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