Gold policy approved in principle

Special Correspondent: The government on Wednesday approved in principle the 'Gold Policy-2018' to ease the import and export of the precious metal as well as ensure transparency in its trade inside the country.

The approval came at a meeting of the Cabinet Committee on Economic Affairs (CCEA) at the cabinet division in the secretariat with Finance Minister AMA Muhith in the chair.

CCEA members, senior secretary of the cabinet division, secretary of the ministry concerned and other high officials were present at the meeting.

After the meeting, Cabinet Division's Additional Secretary Mostafizur Rahman highlighted different sides of the proposals approved in the meeting.

The committee has approved the gold policy for ensuring accountability in the gold business, said Mostafizur Rahman quoting Muhith.

Under the policy, the government will provide all sorts of supports, including cash incentive and land in the special economic zones, to the gold importer and exporter, he said.

The Bangladesh Bank (BB) will appoint dealers for importing gold bars to meet the country's requirement.

The dealers will be allowed to import gold through bonds, but for that they will have to get bond licences in line with the existing law.

They will also have to inform the BB about their requirement of foreign currency for importing gold and have to obtain no-objection certificate (NOC) from the BB.


risingbd/Dhaka/May 23, 2018/Hasnat/AI