The country has enough foreign currency reserves to meet essential imports for 13 months. The minister of Energy and Natural Resources, Loknath Sharma said this during the 49th Meet the Press session yesterday. The minister said putting a moratorium on imports of non-utility vehicles helped retain over Nu 2Bn worth of foreign reserves in the last six months. The Constitution mandates the government to maintain a foreign currency reserve to meet a year’s worth of essential imports, which is USD 603 M.
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