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The government has hiked the import duty of the gold by 44 percent. According to Chief Secretary Leela Mani Poudyal, the meeting of the Council of Ministers held last Friday decided to increase the customs duty of the precious yellow metal to Rs 5,200 per 10-gram. Earlier while unveiling the budget of current fiscal year, the government had hiked the customs duty of the gold by Rs 3,600 per 10 gram. The government made the decision following advice of the traders after the custom of the gold was hiked in India last month.
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The bullion price in the domestic market has observed decline in the domestic market last week. According to the Federation of Nepal Gold and Silver Dealers’ Association (NeGoSiDA), the price of hallmark gold declined by Rs 1,000 last Friday, and reached Rs 55,800 per tola (11.664 gram). NeGoSiDA chairperson Mani Ratna Shakya said that the decline of the gold price at the international market and the Nepali currency getting stronger in comparison to the US dollar are the main reasons behind the </div>
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fall of gold price. </div>',
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'description' => 'The government has hiked the import duty of the gold by 44 percent. According to Chief Secretary Leela Mani Poudyal, the meeting of the Council of Ministers held last Friday decided to increase the customs duty of the precious yellow metal to Rs 5,200 per 10-gram.',
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