NADA Welcomes Government’s Revival Package for Businesses Affected by Bhotekoshi Flood

The Nepal Automobile Dealers’ Association (NADA) has welcomed the government’s decision to introduce a recovery package for industries, businesses and enterprises affected by the devastating floods in the Bhotekoshi River.

The government has announced a range of measures aimed at supporting the flood-affected private sector, including customs and tax exemptions, loan restructuring and rescheduling, interest rate concessions, additional credit facilities, and easier processing of insurance claims.

NADA said the measures are a positive step toward providing immediate relief to affected businesses and creating an environment for them to resume operations.

Among the key provisions welcomed by the association is the decision to cancel the registration of commercial vehicles and transport equipment that were completely destroyed or swept away by the floods. Businesses will also be eligible for customs duty exemptions when re-importing vehicles and equipment of the same nature.

NADA said the provision could provide significant relief to automobile dealers, transport operators and other businesses dependent on commercial vehicles. Concessions for the re-import of damaged machinery and equipment are also expected to support the rehabilitation of affected businesses.

The association further welcomed provisions allowing flood-affected borrowers to restructure or reschedule their loans and receive interest rate concessions. Access to additional loans for replacing damaged vehicles and equipment is expected to help businesses continue their operations.

NADA President Surendra Kumar Upreti said the government’s decision to address taxes, customs duties, credit, interest rates and insurance together was a positive move toward helping the private sector recover from the disaster.

“Addressing taxes, customs, loans, interest and insurance in an integrated manner is a highly positive step toward helping the private sector recover after the disaster. It will provide an important foundation for affected businesses to resume operations,” Upreti said.

NADA has urged the concerned government agencies to ensure the measures are implemented quickly, simply and effectively so that affected businesses can access the announced support without unnecessary delays.