KATHMANDU, Jan 9: In yet another incident, which shows that smuggling of gold from China continues unabated despite government´s efforts, Department of Revenue Investigation (DRI) on Wednesday seized 2 kg of gold while being illicitly brought into the country.
A special flying squad mobilized by the DRI came across the illicit consignment while inspecting a Toyota car with registration Ba 1 Cha 6112 at Dhulikhel, Kavre, at 7 am. [break]“The car was parked at the roadside unattended. The driver and the passengers might have left the car when they saw us inspecting vehicles on the highway,” said a DRI preferring anonymity.
Issuing a press release later on the day, DRI said the flying squad could not nab the driver. It has also assessed that the seized gold was worth Rs 10 million.
“We will forward the consignment to Nepal Rastra Bank (NRB) after completing our investigation and other formalities,” the DRI said.
DRI officials believe the consignment was meant for further smuggling to India.
“With NRB tightening its hold on the supply of Indian currency (IC), illicit traders have been relying on smuggled gold to settle their informal transactions or get hold of IC to sell it at premium rate in the black market. We believe the consignment was meant to serve similar purpose,” said the DRI official.
IC is rife in the southern bordering districts. Traders say they need to pay as much as Rs 168 to get hold of IC 100. The rate is Rs 8 higher than the official exchange rate.
Earlier, DRI in December had confiscated 9 kg of gold from a container en-route to Kathmandu from Tatopani at Dhulikhel check post in Kavre.
Within a couple of weeks, it had seized another 3 kg of gold which was left unattended in Tatopani.