Black money never acceptable-Governor Dr Nepal at 15th anniversary of Nepal Gem and Jewellery Association

Governor of Nepal Rastra Bank Dr Chiranjivi Nepal has called for all to remain cautious on the sources of their income citing reference of international law that does not permit any country to allow its citizens to keep black money.

Saying that the economy of neighbouring country Pakistan is now facing trouble due to property without source, he said, adding all the countries of the globe are cautious to maintain fiscal discipline and order.

In his address to the 15th anniversary of Nepal Gem and Jewellery Association (NEGJA) here today, Governor Dr Nepal said only the property with source can be deposited in banks and financial institutions.

He also shared that no country would provide foreign aid and loan to the nation protecting property sans sources.

He also noted that Nepal was in the list of vulnerable countries revealed by the international Fiscal Taskforce till some years ago and Nepal has the commitment to comply with all the provisions of anti-money laundering instrument by 2020.

Black money is never acceptable to the country, he asserted.

Saying the Department also regulates transaction of invaluable metals, Director General of the Inland Revenue Department Bishnu Prasad Nepal asked office bearers of the Association to do transaction upholding the accounting principle.

Likewise, Director General of the Department of Mines and Geology Som Nath Sapkota said the government would adopt a policy in budget for the next fiscal year to establish a processing centre to promote gems and gold ornaments found in Nepal.

Chairperson of the Nepal Bankers' Association Gyanendra Dhungana pledged banking sector's support to all dealing in valuable metals.

Similarly, President of the Federation of Nepalese Chamber of Commerce and Industries Bhawani Rana, acting President of Nepal Chamber of Commerce Rajendra Malla, first vice chairperson of the NBA Suman Man Tamrakar drew the attention of the government to help meet NEGJA's demand for skilful human resource in the sector.