At present, the NRB is supplying 15 kg of gold to dealers through designated commercial banks.
Addressing the first annual general meeting and national convention of Federation of Nepal Gold and Silver Dealers´ Association, Khatiwada said a decision to raise gold supply quota has already been taken and that it will come into effect very soon. “The central bank is raising the quota targeting the upcoming festive season and demand from the dealers,” he added.
Khatiwada further said the central bank would fix new gold supply quota after analyzing the demand in the market. “ [break]
Speaking at the program, Bhaskar Raj Rajkarnikar, senior vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) emphasized the need to undergo merger between the federation and Nepal Gem and Jewelry Association. “As both the organizations have been established with the same purpose, it would be easier if they joined hands,” he added.
Mani Ratna Shakya, president of the federation, said the domestic bullion market is suffering in the absence of a clear policy of the government. “The government is pestering us in the name of market monitoring. We are not against the campaign. We only say it should be carried out as per the set procedure,” added Shakya.
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