Gold and silver traders protest against increased customs duties and imposition of import quotas

KATHMANDU, June 2: Gold and silver traders have taken to the streets, protesting against the increase in customs duties and quotas imposed by Nepal Rastra Bank (NRB) on gold imports.

Gold and silver traders and a committee of goldsmiths organized a protest at Maitighar Mandala on Sunday. They demanded the abolition of the gold import syndicate, the immediate cancellation of the impractical customs increase, and the implementation of business-friendly policies, guidelines, and laws for the gold and silver industry and goldsmiths.

Last year, the NRB introduced a new provision to increase gold imports to 20 kilograms per day, whereas previously importing up to 10 kilograms per day was allowed. However, traders have raised concerns about the high customs duties.

Here are some glimpses of the protest in pictures: