Finance Ministry Secretary Suggests Gold Distribution System Reform
Summary
Finance Ministry Secretary Ghanshyam Upadhyay has called for reforms to Nepal’s gold distribution system, saying access should be made easier for businesses outside Kathmandu and for small buyers. He said the current 25 kg daily sales limit and one-kilogram purchase requirement should be reviewed to improve transparency and curb smuggling.
Key Points
- Finance Ministry Secretary Dr. Ghanshyam Upadhyay said the gold distribution system needs reform to make it more practical and accessible.
- He noted that although Nepal Rastra Bank allows up to 25 kg of gold sales daily, actual private sector demand averages only 17 to 18 kg.
- Upadhyay said the current system concentrates distribution in Kathmandu and excludes small businesses because purchases must be made in one-kilogram units.
- He argued that extending distribution to provincial or district levels and reducing the unit size would help small businesses and discourage smuggling.
