KATHMANDU (Commodity Online) : Four days after Nepal increased gold import duty, gold dealers in the country have formally asked Nepal Rastra Bank (NRB) to allow imports of gold only through hand-carry as per the requirement of the domestic market.

Nepal Gold and Silver Dealers Association suggested the government to give permission to the traders to import gold to the maximum limit of 20-25 kg per day.

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In a statement it said, “We requested NRB officials to allow traders to import a maximum of 20 to 25 kg per day so that there couldn’t be the chance of misuse of the yellow metal due to uncontrolled imports”.

Price of gold has continued to go up in Nepalese markets, thanks to a complete halt in the import for the last few days.

The government fixed import duty on gold to Rs 470 per 10 gram last week in a bid to control cross border smuggling of the yellow metal.

Nepal Rastra Bank has been restricting banks from issuing Telegraphic Transfer (TT) and draft for the purpose of importing gold effective from last week.

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