Bhairahawa Customs Office steps up efforts to intercept contraband
On 22 Dec 2023, authorities intercepted a bus with an Indian license plate that was exporting 5,616 pieces of toothpaste, valued at over Rs 1.62m. The driver fled the scene during the operation, but the Bhairahawa Customs Office managed to seize the vehicle near the Belhiya border with all the contraband goods intact.
On 8 May 2024, another bus carrying contraband items was stopped at the Bethari border. Authorities recovered 363 kg of hukka flavor, 275 meters of georgette fabric, 275 meters of net embroidery, 72 women’s suits, and 85 sarees, all illegally imported and valued at Rs 1.5m, from the bus. Two men Sanjit Harijan and Sanglagna Dipak Patthakaratta were also apprehended and subsequently charged.
On 29 Aug 2024, customs officers seized 210 sacks of sugar (weighing 10.5 tons) from a Pokhara-bound bus at Jhulanipur in Mayadevi Municipality. The bus driver, Shivkumar Yadav, was also arrested.
These cases are just a few examples of the efforts made by the Bhairahawa Customs Office to intercept and seize goods illegally imported or stolen. The Armed Police Force and Nepali Police personnel have started conducting independent investigations and enforcing regulations. For the first time, it is evident that the Bhairahawa Customs Office is making significant strides in their operations, conducting more thorough investigations than before.
Narad Gautam, chief customs officer at Bhairahawa, said, “We are being notified about products that are being illegally exported or imported, and our team has been successful in seizing them. We have found that smugglers are secretly bringing in materials like sugar and clothes to fuel the black market, create artificial scarcity, and even hoard goods during the festival season. In response, we are taking action to control these smuggled goods.”
In the past week alone, three vehicles attempting to transport 33 kg of sugar to other cities were seized. Every day, the customs office inspects warehouses and monitors vehicles heading to other cities. Gautam added, “Information about customs evasion control is crucial. The results of our efforts, both in the field and in the office, are now visible. By collaborating with informants, we are gaining their trust and receiving more tips.”
Gautam acknowledged that although there is a reward system for informants, there is currently no budget to gather advance information for controlling contraband. Despite this, efforts to curb customs evasion continue.
According to the office, in the past ten and a half months (from 26 Oct 2023 to 31 Aug 2024), the customs office has seized goods including clothes, sugar, peas, tobacco, toothpaste, onions, hookah flavor, and cigarettes, valued at more than Rs 40.5m. Additionally, vehicles used for smuggling, including trucks, pickups, cars, and motorcycles worth Rs 20.34m, have been seized, and eight individuals have been arrested and prosecuted for smuggling.
Gautam said, “In some cases, we have returned empty-handed even after field operations, but we are committed to controlling customs evasion. It has come to our attention that some individuals involved in customs evasion have ceased their activities, while others are on the run and remain on our wanted list.”
Nepse plunges by 12. 10 points on Wednesday
The Nepal Stock Exchange (NEPSE) plunged by 12. 10 points to close at 2,727.26 points on Wednesday.
Similarly, the sensitive index dropped by 2. 35 points to close at 486. 36 points.
A total of 20,153,993-unit shares of 316 companies were traded for Rs 9. 65 billion.
Meanwhile, Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) was the top gainer today with its price surging by 10. 00 percent. Likewise, Nepal Finance Ltd. (NFS) the top loser with its price dropped by 8. 91 percent.
At the end of the day, the total market capitalization stood at Rs 4. 33 trillion.
Nepse plunges by 90. 73 points on Wednesday
The Nepal Stock Exchange (NEPSE) plunged by 90.73 points to close at 2,739.46 points on Wednesday.
Similarly, the sensitive index dropped by 16. 31 points to close at 488. 71 points.
A total of 26,584,192-unit shares of 320 companies were traded for Rs 12. 92 billion.
Meanwhile, Excel Development Bank Ltd. (EDBL), Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB), Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) and Samaj Laghubittya Bittiya Sanstha Limited were the top gainers today with their price surging by 10. 00 percent. Likewise, Kumari Equity Fund (KEF) was the top loser as its price fell by 10.00 percent.
At the end of the day, the total market capitalization stood at Rs 4. 35 trillion.
Nepse surges by 6. 94 points on Tuesday
The Nepal Stock Exchange (NEPSE) gained 6.94 points to close at 2,830.20 points on Tuesday.
Similarly, the sensitive index surged by 1.20 points to close at 505. 03 points.
A total of 30,599,890-unit shares of 328 companies were traded for Rs 13. 57 billion.
Meanwhile, NLG Insurance Company Ltd. (NLG), Sindhu Bikash Bank Ltd (SINDU), Matribhumi Lagubitta Bittiya Sanstha Limited (MATRI), Green Development Bank Ltd. (GRDBL) and Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) were the top gainers today, with their price surging by 10. 00 percent.
Likewise, Himalayan Power Partner Ltd. (HPPL) was the top loser as its price fell by 8.86 percent.
At the end of the day, total market capitalization stood at Rs 4. 49 trillion.
