New rule to encourage use of electronic cargo tracking system
Kathmandu, March 21 -- In a bid to facilitate the implementation of electronic cargo tracking for third country imports, Nepal Rastra Bank has allowed commercial banks to issue payment instruments in foreign currency for cargo transported by railway to Birgunj dry port and Biratnagar customs point only.
Earlier, banks were allowed to issue payment instruments for cargo dispatched to other customs points on the Nepal-India border too. Nepal Rastra Bank published a circular containing the new provision on Monday.
The central bank said the policy followed the government's move to implement the electronic cargo tracking system and transshipment facilities. Currently, electronic cargo tracking and transshipment facilities only apply to shipm...
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