Gold, silver dealers vow to end market

KATHMANDU, March 11: The new executive committee of Federation of Nepal Gold and Silver Dealers´ Associations has expressed commitment to make gold and silver trading easier for customers.



Speaking at program organized to formally announce transformation of Nepal Gold and Silver Dealers´ Association (Negosida) into the federation, Mani Ratna Shakya, president of the federation, said the new committee will work toward providing guarantee on quality of gold and ending the practice of dealers charging higher price during peak season. [break]“We will also work to make gold bars available for investors,” he added.



Mohan Sunar is the vice president of the new committee which has Manik Ratna Shakya as general secretary, Gyan Kaji Shakya as treasurer and Tej Ratna Shakya as a distinguished member. It also has 23 executive members.



According to officials, the federation will work as the umbrella organization of people involved in the business of gold and silvers, precious and semi precious stones.





Photo: Dipesh Shrestha



It will also bring traders dealing on machineries and equipment, decoration and packaging materials, and other services related to the bullion industry under its ambit.



The federation will also work toward producing trained hands for the industry, creating employment opportunities and expand the network of quality service throughout the country.



At present, the federation has presence in 43 districts. It has more than 4,000 members across the country.



Speaking on the occasion, Tej Ratna said the federation announced on Monday will fix the price of gold and silver in the Nepali market. “It will address problems faced of the traders and ensure that customers do not have to face any problems while buying or selling gold,” Tej Ratna said.



Federation requests govt to explore mines



Officials of the federation have requested the government to study the possibility of discovering gold and silver deposits in the country so as to reduce import of previous metals.



“The government should take the issue seriously. We are ready to work with the government for gold, silver and precious stones mining.



Speaking on the occasion, Tej Ratna lamented that no serious study has been done to identify gold and silver mines in the country.

Related story

Gold and silver prices remain steady