Friday, January 22, 2021

Dealers seek FNCCI support for removal of gold import quota

 Gold and silver dealers asked for support from the umbrella organisation of private sector to remove the quota system on gold imports.

During a meeting with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Shekhar Golchha today, the newly elected executive committee of Federation of Nepali Gold and Silver Dealers’ Association (Fenegosida) requested to support their demand of removal of quota system in gold import.

The government has limited the daily gold import to 10 kg per day, currently. “Before the Corona pandemic, the government allowed to import 20 kg daily,” they said, adding that the government has limited it to 10 kg per day even after the pandemic. “We want the FNCCI support in increasing the daily imports of gold quota so that businesses can run smoothly,” Fenegosida president Manik Ratna Shakya said, adding that the government should also make necessary policy arrangements for export promotion. “We want government to set up gold and silver processing centres in the country.”

Responding to Fenegosida team, Golchha vowed to support them to solve their problems. “The FNCCI will always support the legitimate demands of the traders,” he said, adding that the current quota system in the open market is not right.

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