KATHMANDU: The ongoing protest by gold and silver traders across the country has been called off following a six-point agreement reached with the government on Thursday.
The breakthrough came during talks held at the Ministry of Finance between government officials and representatives of the Federation of Nepal Gold and Silver Dealers’ Associations. With the agreement in place, traders have announced that their businesses will resume nationwide starting Friday.
Narendra Gupta, a representative of the traders’ federation, said that gold and silver shops would now operate without disruption.
“We’ve decided to suspend all protest programs and return to normal business from tomorrow,” he said.
The traders had launched protests after the government, through the budget for the current fiscal year, imposed a luxury tax on gold and diamond products. Their primary demand was the removal of gold and jewelry from the list of luxury items.
Over the past several days, gold and silver businesses across the country remained closed in protest, affecting the precious metals market.
Following the agreement, traders have expressed commitment to cooperating with the government and ensuring smooth trade operations going forward. The deal is expected to bring stability to the gold and silver market, which had been severely disrupted.
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