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Kathmandu, July 4: In a major boost to the Nepal-India bilateral ties, the two neighbouring countries have revised the Railway Service Agreement on June 30, according to a media report. According to the revised text of the Letter of Exchange, all authorised private container train operators (Indian as well as Nepali) will be able to utilise the Indian railway network to carry freight containers for Nepal’s imports or exports, ending the monopoly of the Indian government-owned Container Corporation of India (CONCOR), the report published in the Kathmandu Post daily said.
The agreement was singed in 2004 and the two sides have tried to amend it several times in the past. As the countries are planning to expand and extend more cross-border railway service in both passengers and cargo facilities, the agreement was needed to be revises without any delay, a Nepali official told IANS. This liberalisation will allow market forces to come up in the rail-container-freight segment in the Himalayan nation, and is likely to reduce transportation costs in the medium term, benefiting the Nepalese consumer, the report added.
