Around 1,700 brand-new vehicles stuck in Birgunj checkpoint

BIRGUNJ, SEPTEBER 20 : Around 1,700 brand-new vehicles-both light and heavy- entering Nepal from neighbouring India and third countries for sale have been stuck midway at the  Birgunj checkpoint.  Of them,  the number of light four-wheelers like buses, tippers, trucks and mini-trucks stands at 1,114. Similarly, the light ones like  jeeps, cars and vans number 572. 

The prices of all these stuck  vehicles range from Rs 2 million to Rs 10 million. 

 According to Kamal Gyawali, chief of the Birgunj Integrated Check Post, they have been parked in the premises of the check post for the last seven months.

The sale of vehicles is declining in the Nepali market, with the banks and financial institutions (BFIs) tightening their auto lending  due to a receding supply of loanable funds.  As a result, a large number of four-wheelers have been confined to the Birgunj checkpoint.