The rally saw participation of gold and silver dealers from all 75 districts that are under the umbrella of the Federation of Nepal Gold and Silver Dealers Associations (FNGSDA) and Federation of Nepal Gold, Silver, Gems and Jewelry Associations (FNGSGJA).
The rally culminated into a national gathering where the participants held discussions on ways to pile pressure on the government to address their demands.
The gathering held discussion on a concept paper prepared by Manik Ratna Shakya, general secretary of FNGSDA, which dealt on problems in the markets, solution to those problems and the ways to move forward.
“Though the concept paper was good, more than 80 percent of the traders went against it. We have decided not to implement it for now,” said Mani Ratna Shakya, president of FNGSDA.
Meanwhile, the traders have decided to keep their shops closed unless the government formulates guidelines for monitoring and withdraw cases against three jewelry outlets that were found guilty during market monitoring.
As part of their protest, both the federations have stopped fixing rates of gold and silver and issuing recommendations for banks to sell gold.
“We called this national gathering to prepare our future plans after the meeting held on Tuesday with the officials of Department of Commerce and Supply Management (DoCSM) failed to reach to any conclusion,” Ramesh Maharjan, president of FNGSGJA, told Republica. “Our protest will continue until the government incorporates our suggestions in the monitoring guidelines and withdraw cases against the three jewelers.”
According to Maharjan, government officials have hinted that they are positive about incorporating suggestions of jewelry traders in the monitoring guidelines.
Meanwhile, the gold dealers have decided to meet leaders of four major political to seek their solidarity on their demands. Besides, they are also holding discussion with FNCCI officials on Friday regarding their demands and protest programs.
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