Restriction on import of luxury goods to continue further

KATHMANDU: Although the government says it has imposed a restriction on luxury imports until mid-July 2022, the end of the current fiscal year, only, officials say it is highly likely that the government will extend the restriction.

Moreover, the new budget plan for the next fiscal year will embrace the restriction on luxury imports as a policy priority, according to the officials.

Currently, the Ministry of Finance is preparing the budget plan that it has to table in the House of Representatives on May 29 as per the constitutional provision.

Officials say the government will also restrict agricultural products to push domestic producers for more yields.