The government’s investigation into the recent import of electric vehicles (EVs) through northern border points has reached different conclusions for Mustang and Rasuwa customs checkpoints.
According to the Department of Customs, the monitoring team deployed at Mustang Customs concluded that the import and customs clearance process of 649 electric vehicles was completed in accordance with prevailing laws and regulations. The vehicles had entered Nepal on Jestha 14, and after reviewing official records and conducting a detailed analysis of CCTV footage, the team confirmed that the vehicles had physically entered Nepal and completed customs clearance within the legally permitted timeline.
However, the inspection at Rasuwa Customs Office identified procedural irregularities during customs clearance. The monitoring team reported that customs officials did not demonstrate sufficient caution and failed to fully carry out their official responsibilities. During field verification and examination of customs declarations and records, investigators found that some electric vehicles appeared to have been processed and cleared based mainly on submitted documents before the vehicles had physically arrived at the customs point.
Following these findings, the Ministry of Finance and the Department of Customs proceeded with administrative action by suspending 13 officials, including the then customs chief at Rasuwa, and initiating departmental investigations.
The Department also stated that customs clearance representatives and importing companies involved in the process — including Laxmi eMobility Pvt. Ltd., Syakar Trading Company, CG Motors Pvt. Ltd., Pooja International Pvt. Ltd., and customs agents numbered 833 and 478 — have been referred to Rasuwa Customs Office for further action under prevailing customs laws.
The investigation comes amid increased scrutiny of large-scale EV imports and reflects the government’s effort to strengthen transparency, accountability, and compliance in customs administration.
Latest Business, Economy, Banking & Market News
Growing U.S. Investment Interest Draws Attention In Nepal
Increasing investment interest from the United States is drawing attention in Nepal as businesses and policymakers explore opportunities for capital inflows and economic partnerships.
🔗 https://financeinyourhand.com/growing-u-s-investment-interest-draws-attention-in-nepal/
Nepal Targets 5,335 MW Installed Electricity Capacity
Nepal aims to achieve 5,335 MW of installed electricity generation capacity during the next fiscal year to support rising energy demand and exports.
Commercial Banks Publish New Fixed Deposit Rates For Ashad
Commercial banks across Nepal have released updated fixed deposit interest rates for Ashad.
🔗 https://financeinyourhand.com/commercial-banks-publish-new-fixed-deposit-rates-for-ashad/
Kia Nepal Launches The New K3 Seltos
Official Website:
https://www.kia.com
Nepal Foreign Minister Begins Official China Visit
Nepal’s Foreign Minister started a four-day official visit to China.
Gold And Silver Prices Move Higher In Nepal
Gold and silver prices recorded gains in Nepal.
🔗 https://financeinyourhand.com/gold-and-silver-prices-edge-higher-in-nepal/
Scotland Ends 36-Year Wait In 2026 FIFA World Cup
Qualification action saw Scotland secure a narrow win.
Bhujung Hydropower Holds 4th AGM
The company elected a new board and approved future plans.
Securities Investigation Case Filed
Authorities filed a case involving 81 individuals.
Nepal Reinsurance Reports Quarterly Loss
Nepal Credit Investment Expands
Kumari Bank Launches Digital Loan Service
Official Website:
https://www.kumaribank.com
Hydropower Dominance Raises Questions
Nepal Bank Lending Reaches Rs. 58.89 Trillion
NEPSE Extends Decline Despite Higher Turnover
Finance Minister On Capital Spending
NEPSE Index Falls Slightly
🔗 https://financeinyourhand.com/nepse-index-falls-slightly-but-turnover-rises-on-friday/
SpaceX Raises $75 Billion
Official Website:
https://www.spacex.com
News:
https://financeinyourhand.com/spacex-raises-75-billion-ahead-of-landmark-stock-market-listing/
Rastriya Banijya Bank Introduces Online Collateral System
Official Website:
https://www.rbb.com.np
Wealth Orbit Center
Homepage:
https://wealthorbitcenter.com/
Global News:
https://wealthorbitcenter.com/category/global-news/
Nepal Stock News:
https://wealthorbitcenter.com/category/nepal-stock-news/
Crypto Screener:
https://wealthorbitcenter.com/live-crypto-currency-price-and-chart-screener/
Forex Screener:
https://wealthorbitcenter.com/forex-currency-scrrener-today/