Gold price increases by Rs 100 per tola on Monday
The price of gold has increased by Rs 100 per tola in the domestic market on Monday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 152, 200 per tola today. It was traded at Rs 152, 100 per tola on Sunday.
Similarly, the price of silver has increased by Rs 5 and is being traded at Rs 1,755 per tola.
Gold price drops by Rs 1,200 per tola on Sunday
The price of gold has dropped by Rs 1,200 per tola in the domestic market on Sunday.
According to the Federation of Nepal Gold and Silver Dealers' Association, the yellow metal is being traded at Rs 152,100 per tola today. It was traded at Rs 153, 300 per tola on Friday.
Similarly, the price of silver has dropped by Rs 45 and is being traded at Rs 1, 750 per tola.
Gold price sets new record at Rs 153, 300 per tola
The price of gold has increased by Rs 1, 300 per tola in the domestic market on Friday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 153, 300 per tola today. It was traded at Rs 152, 000 per tola on Thursday.
Similarly, the silver is being traded at Rs 1, 795 per tola.
Bhairahawa Customs Office steps up efforts to intercept contraband
On 22 Dec 2023, authorities intercepted a bus with an Indian license plate that was exporting 5,616 pieces of toothpaste, valued at over Rs 1.62m. The driver fled the scene during the operation, but the Bhairahawa Customs Office managed to seize the vehicle near the Belhiya border with all the contraband goods intact.
On 8 May 2024, another bus carrying contraband items was stopped at the Bethari border. Authorities recovered 363 kg of hukka flavor, 275 meters of georgette fabric, 275 meters of net embroidery, 72 women’s suits, and 85 sarees, all illegally imported and valued at Rs 1.5m, from the bus. Two men Sanjit Harijan and Sanglagna Dipak Patthakaratta were also apprehended and subsequently charged.
On 29 Aug 2024, customs officers seized 210 sacks of sugar (weighing 10.5 tons) from a Pokhara-bound bus at Jhulanipur in Mayadevi Municipality. The bus driver, Shivkumar Yadav, was also arrested.
These cases are just a few examples of the efforts made by the Bhairahawa Customs Office to intercept and seize goods illegally imported or stolen. The Armed Police Force and Nepali Police personnel have started conducting independent investigations and enforcing regulations. For the first time, it is evident that the Bhairahawa Customs Office is making significant strides in their operations, conducting more thorough investigations than before.
Narad Gautam, chief customs officer at Bhairahawa, said, “We are being notified about products that are being illegally exported or imported, and our team has been successful in seizing them. We have found that smugglers are secretly bringing in materials like sugar and clothes to fuel the black market, create artificial scarcity, and even hoard goods during the festival season. In response, we are taking action to control these smuggled goods.”
In the past week alone, three vehicles attempting to transport 33 kg of sugar to other cities were seized. Every day, the customs office inspects warehouses and monitors vehicles heading to other cities. Gautam added, “Information about customs evasion control is crucial. The results of our efforts, both in the field and in the office, are now visible. By collaborating with informants, we are gaining their trust and receiving more tips.”
Gautam acknowledged that although there is a reward system for informants, there is currently no budget to gather advance information for controlling contraband. Despite this, efforts to curb customs evasion continue.
According to the office, in the past ten and a half months (from 26 Oct 2023 to 31 Aug 2024), the customs office has seized goods including clothes, sugar, peas, tobacco, toothpaste, onions, hookah flavor, and cigarettes, valued at more than Rs 40.5m. Additionally, vehicles used for smuggling, including trucks, pickups, cars, and motorcycles worth Rs 20.34m, have been seized, and eight individuals have been arrested and prosecuted for smuggling.
Gautam said, “In some cases, we have returned empty-handed even after field operations, but we are committed to controlling customs evasion. It has come to our attention that some individuals involved in customs evasion have ceased their activities, while others are on the run and remain on our wanted list.”
