Nepal Permits Import of Gold, Silver

Nepal permits import of gold, silver

KATHMANDU, March 3 (Xinhua) — The Nepali government, for the first time, introduced a provision to allow businessmen import precious metals, like gold and silver, and valuable stones from abroad, an official said here Friday.

“The Nepali government, publishing a notice in the National Gazette, had introduced Open General License to import such goods, “said Tej Ratna Sakya, president of Nepal Gold and Silver Dealers Association, a non-government organization.

Previously, gold and silver dealers had to buy these items from those people staying outside the country for more than six months, who were allowed to bring in one kg of gold and 15 kg of silver while returning home.

The arrangement would ensure the smooth supply of the precious items in Nepal, Sakya added.

Nepal Rastra Bank, the central bank of the country, has already adopted a policy of providing U.S. dollars to gold and silver dealers for import purpose, said Sakya.