The government is planning to send a team to Beijing to sign the first commercial oil trade deal with China only on Monday, as some technical issues including local taxation on petroleum products, remain unresolved. Minister for Commerce and Supplies Ganesh Man Pun said the seven-member team would leave for China on Monday after finalising all the technical procedures. Earlier, the team was scheduled to leave for Beijing on Friday. The delay in sending the government team to Beijing has also been attributed to two-day holiday (Saturday and Sunday) in China. “Two major technical issues - local tax waiver and risk control measures - are yet to be resolved,” Pun said. According to Pun, Nepal’s Ambassador to China Mahesh Maskey has been assigned to settle the local taxation issue. “Due to a long route, we also have to settle the risk measures for transportation or hazard protection measures which are essential parts of any trade deal.” Pun, however, said the deal would be concluded by next week.
