Young Business Executive Forum inaugurated

 The Young Business Executive Forum (YBEF) has been formally inaugurated under the umbrella of Nepal Foreign Trade Association (NFTA). Led by Gaurav Sharda, the forum is the youth department of the association. The association has appointed Sharda as the President of the YBEF, according to a press note issued by the association.

According to the association, the forum aims at developing dynamic young business leaders. "The forum has been formed to create capable youth leadership in the business sector through knowledge exchange, promotion of innovative ideas and practical learning, and exchange of information," president of the association Sunil Kumar Bansal said.

The forum will promote the skills and abilities of young entrepreneurs by teaching them good business practices, the press note reads, adding that the forum believes that it will prepare the leadership to face the challenges of the dynamic corporate world.

Sushil Gupta is the advisor of the forum.

The association has also informed that Jayant Agrawal is the vice president and Sumit Kumar Banshal (Dhanuka) is the general secretary of the forum. Likewise, Saloni Sethia has been given the responsibility of bilateral trade and relations. Pravesh Agrawal has been given the responsibility of the Import and Export Trade Promotion Department and Kushal Sundar Shrestha has been given the responsibility of the network and membership campaign.

The forum has unveiled its banner and made the forum public at a function held in Kathmandu today.

Importers seek clear customs rule

Nepal Foreign Trade Association (NFTA) has asked the government to clarify the customs rules for smooth imports.

"The customs are arbitrarily levying different charges for imports," said president of the association Ashok Kumar Agrawal in a meeting with director general of the Customs Department Dr Mukti Narayan Poudel here today.

"Different customs are charging different rates for the same imports due to the vague classification system," he said, adding that the customs do not recognise the import bill of even multinational companies. "The customs levy charges on imports arbitrarily also due to the lack of clear customs valuation," the team apprised the director general.

They also sought a clarification on the papers that they need to submit at the customs for smooth imports. "Importers of electronics, confectionery and cosmetic products have been suffering more due to the unclear customs rule," they complained.

Poudel, however, claimed that the customs recognises the import bills and if any customs is not going by the rule, he will seek clarification from the concerned customs officials. "But importers must import quality products," he suggested, asking them to be more aware while importing food items.

The customs will be strict regarding the import of quality products, the director general said. "Nepali importers have also been cheated by foreign exporters."

Likewise, the customs department will not encourage under valuation of imports, Poudel said, asking the importers to cooperate with the department by providing information on imports of under-valued products for effective customs procedures