Nepal has prohibited imported booze, playing cards, and nearly a dozen other “non-essential” items to solve the Himalayan country’s rising trade deficit and dwindling foreign currency reserves, according to officials. Falling remittances and tourism earnings, combined with a blowout budget deficit, have severely dented Nepal’s fiscal position during the Covid-19 pandemic. The central bank has … Read more
Nepal has imposed import restrictions on non-essential products, including automobiles, cosmetics, and gold, following a decline in its foreign currency reserves. It comes as a result of a decline in tourism expenditure and money returned home by Nepalis working abroad, which contributed to the government’s debt increase. Meanwhile, the country’s central bank governor was relieved … Read more
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) President Muhammad Idrees has warned that the rupee devaluation is going to have a deep impact on the inflation as it will raise the cost of doing business, a statement said. He said that the rupee depreciation will not only make Pakistani goods uncompetitive in the export … Read more
