Gold Import Quota Hiked

 

Nepal Rastra Bank (NRB) has increased the daily import quota of gold by 5 kg. The board meeting of the Bank last Monday (September 16) decided to hike the gold quota to 20 kg a day. The government has increased the import quota of the precious yellow metal considering the upcoming Dashain and Tihar festivals, when the demand of gold is expected to rise.

Though the NRB has decided to increase the import quota, dealers and traders of gold have complained that the central bank was late to take the decision. “It would have benefitted the government, dealers and customers if the quota was hiked while the gold price was high (August 28) and there was shortage of gold,” said Tej Ratna Shakya, former president of Nepal Gold and Silver Dealers' Association (NEGOSIDA).