Nepal Government to tighten the credit for import of fuel based vehicles

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Nepal Government to tighten the credit for import of fuel based vehicles

The of Nepal has plans to reduce the import of fuel vehicles and encourage the use of electric vehicles. The move is part of a broader effort to reduce the country's trade deficit and improve its environmental .

Under the new , the government will implement a number of measures to discourage the import of fuel vehicles. These measures include:

  • Reviewing to make it more difficult to obtain financing for the purchase of fuel vehicles.
  • Providing tax incentives for the purchase of electric vehicles.
  • Establishing throughout the country.
  • Promoting the use of electric vehicles in government and public transportation.

The government that these measures will to reduce the country's reliance on imported fuel and improve its air quality. It also estimates that the switch to electric vehicles could save the country billions of rupees in fuel costs each .

The plan has been welcomed by environmental groups, who long the government to to reduce air . They believe that the switch to electric vehicles is a major forward for the country and will help to improve the health of its citizens.

The plan has also been welcomed by the electric vehicle industry, which sees Nepal as a market for electric vehicles. The industry believes that the government's incentives will make electric vehicles more affordable and accessible to consumers.

The plan is expected to be implemented within the next six months. The government is confident that the switch to electric vehicles will be a and will help to improve the country's and environment.

Also Read:  India-Nepal Economic Partnership Summit 2023

In addition to the measures mentioned above, the government is also to:

  • Export electricity to neighboring countries.
  • Replace petrol and diesel-powered equipment used in agriculture with electric ones.
  • Encourage the use of electric systems in brick and cement industries that use coal.

The government believes that these measures will help to reduce the country's dependence on imported fuel and improve its environmental sustainability.

Kathmandu sees high numbers of vehicles; traffic management turns  challenging - myRepublica - The New York Times Partner, Latest news of Nepal  in English, Latest News Articles

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