Govt issue Safeguards, Anti-Dumping Countervailing Regulations

Kathmandu: The Ministry of Industry, Commerce and Supplies has issued its regulations as per the Safeguard, Anti-Dumping and Countervailing Act.

As per the Act, the regulations have been brought by the Ministry of Industry, Commerce and Supplies and the government will impose additional duty on the import of goods that harm the indigenous industries.

Domestic industries are required to submit a written and electronic application to the Ministry of Industry, Commerce and Supplies for the installation of safeguards.

After the ministry brought the regulations as per the law, the industrialists have allowed safeguards and anti-dumping to be imposed on the import of various goods. According to the regulations, the Ministry has to send the application to the Department of Commerce, Supplies and Consumer Protection within three days of the industrialist submitting the application through electronic and written means.

The department may appoint a research officer and recommend to the Ministry to impose safeguards and anti-dumping charges if the goods imported from abroad have affected the goods produced by the domestic industry.

If the government has given subsidy to the goods imported from abroad and its price has become cheaper and affected the Nepali producers, the government may impose counter whaling fee on such goods.

The government can impose anti-dumping duty in case of non-sale of products produced by indigenous industries in Nepal due to very cheap cost abroad and dumping of foreign products.

There is a greater risk that the government will resort to anti-dumping and countervailing laws in the name of protecting indigenous industries. On the one hand, it is said that the indigenous industries have been protected, but the main objective is to increase the revenue target.

Leave a comment

Your email address will not be published. Required fields are marked *