The 23rd Lhengye Zhungtshog held on 27 January, 2014 at the Tashichhodzong decided to lift the ban on import of furniture and alcohol

The 23rd Lhengye Zhungtshog held on 27 January, 2014 at the Tashichhodzong decided to lift the ban on import of furniture and alcohol.

Upon the recommendations of the Multi-sectoral Task Force, the Lhengye Zhungtshog yesterday agreed to lift the ban on furniture and alcohol in the spirit of renewing the bilateral trade agreement with India. The ban on alcohol and furniture is to be lifted while the ban on import of vehicles will be deliberated later upon consideration of the Pay Commission’s report.

The Multi-sectoral Task Force found that restrictions did not serve their intended purpose in the economy and were not in line with bilateral and regional trading arrangements.

The Task Force recommended the government to frame fiscal measures to supplement monetary measures in order to ensure smooth functioning of the economy. The Task force also recommended the government to review duty & tax structure to promote local industry and if deemed necessary, reduce alcohol consumption through fiscal, education and other measures.

The Multi-sectoral Task Force Report identified vehicle import as major contributor to trade imbalances and Rupee shortfall. The Task Force further recommended for appropriate fiscal measures prior to lifting the existing restriction on vehicle import.

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