Nepal government lifts ban on gold import

The government has lifted the ban on gold import, imposed a few months ago, after the government increased the import duty on its import.

The Ministry of Commerce and Supplies (MoCS) lifted the ban Tuesday. According to the decision taken by MoCS, only commercial banks can import gold and the process will be monitored by Nepal Rastra Bank (NRB).

NRB will prepare a manual to regulate the import and sale of gold and review the sales and import of gold every month.

The import was banned a few months ago at the recommendation of NRB to save foreign currency.

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