“We were invited for talks at Ministry of Commerce and Supplies at 1 pm on Friday. But commerce secretary, who was supposed to attend the meeting, didn´t show up. Also, we haven´t been informed when the next meeting will be held,” Manik Ratna Shakya, president of president of Federation of Nepal Gold and Silver Dealers´ Associations, told Republica. [break]
Gold dealers are on a nationwide strike since Wednesday to protest government action against three gold, silver and diamond jewelers. They have been arguing that the government is conducting market monitoring without any guidelines.
“We will continue to shut our shops unless the government withdraws legal proceedings initiated against some gold, silver and diamond jewelers and address our demands,” said Shakya.
Government officials, however, say the ongoing protest will not affect action initiated against the wrongdoers. Narayan Prasad Bidari, director general of the Department of Commerce and Supply Management (DoCSM), said the government would not listen to the traders and will take actions against jewelers that are found involved in cheating customers.
“Though market monitoring guidelines have not been formulated, we will initiate action against them as per the Consumer Protection Act 1998, Black Marketing and Other Social Offences and Punishment Act 1975, and Standard Measurement and Weight Act 1968,” Bidari told Republica.
The government is all set to file cases against Shree Ganapati Jewelers, RB Diamond Jewelers and Tejmin Jewelry as per the Consumer Rights Protection Act.
Tej Ratna Shakya, immediate past president of the federation, has urged the government to give bullion traders one chance to correct their mistakes. Tej Ratna is the proprietor of Tejmin Jewelry - one of the three jewelry outlets found involved in cheating consumers.
A joint team of DoCSM and the Nepal Bureau of Standards and Metrology had inspected different jewelry shops in the capital over the past two months. Lab tests of samples collected from these shops had showed that traders were cheating customers in terms of quality and weight of gold, silver and diamond.
The team had monitored 12 jewelry outlets during the period.
Ramesh Maharajan, chairman of the Federation of Nepal Gold, Silver, Gem and Jewelry Associations, also said they have decided to continue with their protest. He also demanded that the government make draft of the monitoring guidelines ´trader friendly´.
Though the Ministry of Commerce and Supplies has prepared draft of a proposal to standardize the price and quality of gold, silver, diamond and items made from these, bullion traders are against it, arguing that it does not address their demands and that it is very impractical.
Earlier, on April 23, bullion traders associated with the Federation of Nepal Gold, Silver, Gem and Jewelry Associations closed all shops associated with it for three days.
However, this time both the federations have jointly protested and closed the entire shops nationwide to press the government address their demands.
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