Kathmandu. Former President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Suraj Baidya has said that the government should formulate a policy only after conducting study and research.

Naima said this at an interaction program organized at Bhrikutimandap in the capital.

He said it was necessary to see what impact the government’s policy for EVs has had. Although the number of fuel on vehicles imported into Nepal is low, the tax has been raised more, he said.

“In the last fiscal year, although the import of fuel-powered vehicles was less than that of EV, the state used to get the tax from invoices,” he said. Taxes are also levied on other heads. “It should not be forgotten,” he said.

He argued that the government should not forget the various taxes that the government gets from fuel when we go to EVs. Baidya said the state had received around Rs 9 billion tax by importing 12,000 EVs in the last fiscal year and rs 40 billion for importing 5,000 fuel vehicles.

Executive Director TAG_OPEN_span_20 of Nepal Rastra Bank Guru Prasad Poudel has said that those who buy vehicles take loans from banks. TAG_CLOSE_span_20 He said that now people spend or invest elsewhere if they have money and take loans from banks to buy cars.

He also informed that it would be easier for the bank to give loans to a car with a red number and a house built for the person to live in. Poudel said that around Rs 200 billion has been disbursed in higher purchase loans so far.

Cymex Inc., the official distributor of BYD Auto Industry, was also present at the event. Prof. Yamuna Shrestha, Managing Director of Nepal Electric Vehicles Limited, said that there is a good potential for electric vehicles (EVs) in Nepal. Currently, 10 vehicles are booked in Nepal and there are seven EVs, she said. She informed that 700 charging stations have been constructed in Nepal with the increase in the market of EVs and the government has already constructed about 60.

She said that ev service centers have also been increasing in recent times. At present, the government levies 43 per cent tax on EVs. She said that in some other countries, the tax on EV is free.

On the occasion, artist Haribansh Acharya said that the potential of EV in Nepal is significant. EV said that environmental pollution and air pollution will be reduced.