Money
Light goes out of festival market
The unofficial trade embargo imposed by India has dampened the mood of light sellers in the domestic market as 90 percent of their shipments from China are stranded at Kolkata port in India.The unofficial trade embargo imposed by India has dampened the mood of light sellers in the domestic market as 90 percent of their shipments from China are stranded at Kolkata port in India.
Tihar is generally known as the festival of lights, and houses are illuminated with electric lights. In the old days, people used to light earthen oil lamps during Tihar, but nowadays electric lights are in, and Chinese products command a lion’s share of the market due mainly to their lower prices. According to traders, 90 percent of the electric lights sold in Nepal are imported from China.
As the Tatopani customs point to the north of Kathmandu has been out of service for the last six months after being damaged by the Great Quake, traders have been importing goods through Kolkata port.
“The blockade has ruined the celebration this year. Traders have not been getting enough supplies of these festive goods, and there is no excitement among the people too,” said Mahendra Kumar Rathi, president of the Nepal Electric Traders Association. According to the association, around 18 truckloads of electric lights have been stranded at the port for the last two months.
“Some traders have brought goods by re-routing their shipments to get around the blockade, but they are able to fulfil only 30 percent of the total requirement,” added Rathi. Electric lights worth Rs500 million are sold during the Tihar festival, according to the association.
“This should have bee the busiest time of the year for us, but we have plenty of leisure as our inventory is very limited,” said Raju Nepal, proprietor of Raj Electrical House at Gana Bahal. He added that business was down 50 percent this year. According to him, he used to sell electric lights worth Rs1.5 million during the festival season.
Meanwhile, customers have been complaining that prices of many electric lights had gone up 20-25 percent. “The kind of lights that customers want are not available in the market. The ones available in the market are expensive,” said Priya Rijal, a customer who was popping in and out of electric shops at Bhote Bahal on Tuesday.
Traders said that electric lights had become costlier in the wholesale market due to higher transportation charges. “Some traders have brought their goods by re-routing them, and they had paid higher freight charges,” said JP Yadav, proprietor of A to Z Bijuli Pasal, Gana Bahal. “So traders were forced to hike prices.”