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Jewellery traders to form federation

KATHMANDU, DEC 18 -

Local gems and jewellery traders and artisans associated with three associations have decided to form a federation—an umbrella organisation representing bullion traders and artisans from across the country. However, the Nepal Gold and Silver Dealers Association (Negosida) will not be included in the proposed body.

The three associations are Nepal Gems and Jewellery Association (Negja), Nepal Gold and Silver Artist Association, and Nepal Gold and Silver Craft Business Association. An Ad-hoc committee comprising president and vice-president of the three associations has been constituted to speed up work on formation of the bigger organisation. “We will register the federation with an appropriate name and hold an election within the next three months to elect the executive committee,” said Ramesh Maharjan, president of Negja and the Ad Hoc committee, addressing a press conference jointly organised by the three associations. Negosida is recognised as a big and old association by the government and sets daily price of the bullion in the local market. Negosida is also preparing to form a federation and is scheduled to approve the statute of the proposed body through an annual general meeting. “We had offered a respectful representation of Negja in our proposed federation,” said Tej Ratna Shakya, president of Negosida. “But they were not clear and came up with their own plan which is just a copy of what we want to do.” Negja and Negosida have been at odds for a long over issues including fixing of daily bullion price and distribution of gold among local dealers. It has been reported that Negosida has over 4,000 members across the country and the three associations gearing up for the federation have over 1,000 members. Maharjan said they would include district-based independent associations of bullion traders and professionals working in the sector in the upcoming federation. “Formation of a federation is must to effectively work on eliminating problems in the sector and promote the business in national and international markets,” he said. At the programme, bullion traders demanded the government set daily bullion price forming a committee including representatives from all associations of bullions traders and officials from the Nepal Rastra Bank and Nepal Bankers Association.

Posted on: 2012-12-19 08:56


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