Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) has directed the banks to open Letter of Credit (LC) and allow them to import goods through the Mustang border point. Nepal Rastra Bank (NRB) has amended the Integrated Circular-2081 BS today. This means that even if the LC has been opened, it can be cleared from Mustang Customs.

Earlier, the LC facility was available only if the goods coming from Chinese territory were cleared through Tatopani Customs Office, Sindhupalchowk, Rasuwa Customs and Rasuwa. Currently, the Nepal Rastra Bank (NRB) has made arrangements to provide this facility to Mustang Customs Office as well. “If the goods are imported through the Chinese territory through the Letter of Credit by truck or railway, the goods will have to be imported from the following customs points. (a) Tatopani Customs (Sindhupalchowk), (b) Rasuwa Customs (Rasuwa) and Mustang Customs (Mustang),” reads the circular.

The floods that occurred in Rasuwa on July 23 have damaged the Rasuwa customs office. The same customs office is mostly used for trade with China. However, trade with China has been affected after the floods damaged the customs office. Roads connected to it have also been affected. In order to facilitate foreign trade with China, the Nepal Rastra Bank (NRB) has made an arrangement to provide LC facility on goods imported from Mustang Customs Office.