April 24, 2022 | Investopaper
In the first nine months of the current fiscal year, more than Rs. 28.54 billion worth of gold has been imported in Nepal
As per the data released by Department of Customs, Nepal has imported more than 4,000 kilograms of gold in a period of nine months. The government has collected revenue of Rs. 3.48 billion from the import of gold.
Gold is mainly imported to Nepal from the United Arab Emirates (UAE) and Turkey. According to the department, 32.33 lakh grams of gold worth Rs. 22.62 was imported from the UAE, while 8,61,500 grams of gold worth Rs 5.92 billion was imported from Turkey.
Despite the tightening of imports now, the import of gold for the first nine months of the current fiscal year seems to have increased as compared to the previous fiscal year. During the same period of the previous fiscal year, 2,760 kilograms of gold was imported.