New budget: what does it have for consumers?

Presenting the annual budget for the year 2005/06 on Saturday, Finance Minister Madhukar Shumshere JBR announced reduction, exemption, and waiver on the duties and special fees levied on the import of different goods, thereby reducing their prices.

However, Rana also announced increment in the import duties of certain goods increasing their prices.

Goods that have became cheaper

As the duties on the import of plastic granules, resins and PVC compound, chemical for making POY, tyre tubes, paper albums, batteries, cycles, hydraulic break fluid, waste chemical, marble/marble chips, pizza etc have been decreased, the prices of these goods are expected to become cheaper.

The prices of imported mustard oil, flour, and incense stick will go down.

Similarly, electric and battery driven passenger and delivery vehicles have become cheaper as the exemption of customs duty on these items has been increased to 50 percent.

Other goods that would now cost less are valves, stint and pacemakers used in heart transplantation; White Stick, Stelstilen, Braille Typewriter, Braille watch, Abacus, Magnifying Glass, Braille Compass, Braille Books, Braille Embosser and Braille Stencil used by blind people; and goods carrying vehicles installed with refrigerating system for safe delivery of fresh milk and vegetables.

Goods that have became dearer

As the finance minister announced a slight increment in the import duty on processed soup, caraway seed, saffron, rochakpachak, paraffin, wax, finishing agent, post cards and envelops- these would now cost more.

The five percent customs duty levied on the import of books printed outside the country- which the finance minister said was done to promote the printing industries within the country- has slightly increase the prices of such books.

Similarly, ayurvedic and allopathic medicines, and diamond jewelry, too, would now cost more.

Due to new adjustments in the tariff rates for the import of finished fish, nets, adhesives, aluminum profile and foils, cameras and parts, fieldtrip pens and markers, pig fats and fats of other animals, dalmot papad numkin bhujiya finishing agent, television picture tubes and kits etc, the prices of these goods are expected to go up. nepalnews.com amt Jul 17 05

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