‘Increase gold import quota to control theft and smuggling’

By A Staff Reporter,Kathmandu, Oct. 3: Minister for Industry, Commerce and Supplies Ramesh Rijal has said that the import of gold quota has been increased to help control theft, smuggling and illegal transactions.

He made this remark during the meeting with the gold and silver entrepreneurs organised by the Ministry of Industry, Commerce and Supply at the Ministry on Monday.

Minister Rijal said that after ensuring the supply system, it is expected that there will be help in controlling gold smuggling.

According to the recommendation of the Ministry, Nepal Rastra Bank has been allowed to import 20 kg of gold per day since last week.

Before that, only 10 kg of gold could be imported daily.

During the discussion, Minister Rijal said that the government is ready to solve the difficulties faced by the gold and silver businessmen and formulate effective policies and rules for business operations.

He suggested that the businessmen should also do the work that will help the state and inspire the general businessmen in this direction.

Secretary at the Ministry of Industry, Commerce and Supplies Madhu Kumar Marasini said that the gold and silver businessmen should pay attention to produce efficient goldsmith in the country itself. He said that the ministry is ready to provide necessary support from the government for this.

During the discussion, President of the Federation of Nepal Gold and Silver Dealers’ Association Manik Ratna Shakya presented a paper on the opportunities and challenges of gold and silver business in Nepal.

He said that it is necessary to create a clear, effective and business-friendly law for the operation of gold and silver business.

President Shakya urged the government for effective arrangement of the supply of gold and silver and there should be no difficulty in the business of gold and silver jewellery that comes from legal means.

He said that international provisions should be taken into account while making policies, and special arrangements should be made for the export of gold and silver jewellery.