Kathmandu, Feb. 17
The Federation of Nepal
Gold and Silver Dealers Association (Fenegosida) has expressed its serious concerns
about the confiscating the gold ornaments, arresting entrepreneurs, giving
unnecessary suffering and mental stress by the police administration in recent
times.
The federation issued a statement on Thursday
saying that businessmen dealing in gold jewelry brought in according to the
standards set by the state have been treated like criminals and this has not
only discouraged the general businessmen, but has also created resentment
towards the entire profession.
The gold businesses
across the country get a total of 10 KG gold each day as directed by the Nepal
Rastra Bank. Apart from the gold duly received from the bank, those coming from
abroad are allowed to bring in up to 50 grams of gold jewelry without customs
duty and an additional 50 grams of gold jewelry after paying the duty.
President of Fenegosida, Manik
Ratna Shakya said that the provision of bringing 50 grams jewelry without
customs duty and 50 grams by paying the taxes has helped fulfill the growing
demand of gold in the market. According to the founding member of the
organisation, Mani Ratna Shakya, the average gold demand a day stands at about
40 KG. “If Nepali migrant workers are not allowed to bring the limited amount
of gold and jewelry with them, there would have been a severe shortage of gold
in the domestic market,” he said.
Recently, the police have
started confiscating the gold ornaments brought in the country by the migrant
workers, arresting the businessmen who deal in such gold, causing unnecessary
suffering and mental stress, read a statement issued by the Federation.
"When gold jewelry
is brought to Nepal, the government should check its validity at the relevant customs
checkpoint. Actions like making business people panic, causing unnecessary
suffering in the name of monitoring are reprehensible,” read the statement.
Published in The Rising Nepal daily on 17 February 2023.
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