Nepal tightens imports amidst narrowing foreign exchange reserves

Nepal's finance minister said that a proposal had been forwarded to temporarily ban the import of expensive and luxurious vehicles

Nepal has tightened imports of expensive cars, gold and other luxurious goods as its foreign exchange reserves have shrunk.
 

Finance Minister Janardan Sharma told reporters that a proposal had been forwarded to temporarily ban the import of expensive and luxurious vehicles and not to allow the government agencies’ vehicles to be used on public holidays.
 

The move came soon after the government suspended the Central Bank Governor Maha Prasad Adhikari and named his deputy the acting chief.
 

The government has appointed Neelam Dhungana Timilsina, acting Governor, the first female head of the central bank in its history.