nepal now used as transit for gold smuggling
Last Updated : GMT 03:22:23
Arab Today, arab today
Arab Today, arab today

Nepal now used as transit for gold smuggling

Arab Today, arab today

Arab Today, arab today Nepal now used as transit for gold smuggling

Kathmandu - XINHUA

Frequent seizures of contraband gold and the arrest of people involved in the racket prove that Nepal has now become a transit route for gold smuggling to neighboring India. Nepali police on Sunday confiscated 54 tola of gold (85.73 tola makes one kilogram) from five Nepali smugglers, including three women. The gold was on its way to India. Acting on tips that three women were bringing gold to Nepal from China in a bus, a police team was deployed to seize the precious metal in Bhaktapur, around 15 km east from this capital city. Deputy Superintendent of Police (DSP) Ramesh Thapa said the gold being smuggled was in the form of thick necklaces which the three women smugglers had been wearing. "This recent crackdown on gold smuggling has brought to light a new modus operandi where smugglers mould gold into pieces of jewelry and make women wear them so that they cannot be detected," Thapa told Xinhua. On Jan. 18, an Indian national was arrested with two and half kilograms of gold at the Tribhuvan International Airport (TIA), Nepal's only international airport. Bikram Kumar Bisandar Chaitramani, who had flown from Dubai on a Fly Dubai flight, was arrested with the precious yellow metal concealed in his shoe. Nepali daily newspapers almost carry each day a report of gold being smuggled. Police, of late, have been successful in scanning concealed gold materials but a large volume is still believed to have slipped from the scrutiny of the authorities. Police authorities have a suspicion that Nepal, being a crossroad, is now turning into an ideal hub for gold smuggling. The police crackdown so far shows that gold is being transported to India through smuggling mainly from Hong Kong, Singapore, Switzerland and Dubai. Nepal Police statistics show that a total of 105 kilograms of gold had been confiscated from the smugglers during the last 17 months while a total of 69 kilograms of smuggled gold was seized in Nepal in the last six months of the current fiscal year. "This statistics show only the smuggled gold which have been seized but not those that have slipped which could be triple in volume," a high ranking police officer, who requested anonymity, said. The officer said that the current internal squabble among politicians in Nepal that apparently affected the morale of the intelligence and security units could have emboldened the gold smugglers to step up their modus operandi. "The gold being smuggled is meant for Indian market where there is soaring demand for it," the Kathmandu- based daily newspaper Kantipur quoted Nepal Police Spokesperson Ganesh KC as saying. Anand Raj Dhakal, deputy director general at Nepal's Department of Revenue Investigation, confirmed the report. "There is a growing demand for gold in India. So the smugglers are cashing in on that," he told Xinhua. "In the sale of one kilogram of smuggled gold, the Indian traders directly get 850 U.S. dollars' extra profit," Mani Ratna Shakya, chairman of Federation of Nepal Gold and Silver Dealers' Association, said. "Without customs and other charges, traders in India could easily get additional 6,000 U.S. dollars profit in the sale of 1 kilogram of gold." Shakya blamed weak security system, especially at the TIA and boarder points adjoining India, for the rise of gold smuggling in this landlocked Himalayan nation. He also said that Nepali traders use very nominal (around 10 percent) of the smuggled gold for local market especially during the marriage season. Winter is considered as a marriage season in Nepal. The government of Nepal has imposed strict quota system in the importation of gold in the local market. Nepali traders can sell only 20 kilograms of gold a day. However, stakeholders believe the market consumes around 35 kilograms a day. "Wherever the smuggled gold is traded and consumed, the government should be serious to curb this illegal activity," added Shakya.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nepal now used as transit for gold smuggling nepal now used as transit for gold smuggling

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

nepal now used as transit for gold smuggling nepal now used as transit for gold smuggling

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday