During the meeting with acting governor of the NRB on Tuesday, they suggested the government to give permission to the traders to import gold to the maximum limit of 20-25 kg per day on the recommendation of Nepal Gold and Silver Dealers Association (Negosida). [break]
“We requested NRB officials to allow traders to import a maximum of 20 to 25 kg per day so that there couldn´t be the chance of misuse of the yellow metal due to uncontrolled imports,” Tej Ratna Shakya, president of the association, said.
He also said NRB officials have assured them that the uncertainty over the mode of importing gold would be settled after consulting with the Finance ministry officials at the earliest.
Price of gold has continued to go up in the domestic market, thanks to a complete halt in the import for the last few days. The price was fixed at Rs 27,780 per 10 gram on Tuesday, up from Rs 27,435 recorded a day earlier. Gold was selling for $ 1,113 per troy ounce in the international market on Tuesday, up from $1104 recorded on Monday.
The government fixed import duty on gold to Rs 470 per 10 gram from Sunday in a bid to control cross border smuggling of the yellow metal. Nepal Rastra Bank has been restricting banks from issuing Telegraphic Transfer (TT) and draft for the purpose of importing gold effective from last week.
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