Cabinet committee okays raw gold import

Wednesday, 27 January 2021

From now on, jewellery manufacturers will be allowed to import raw gold to refine it locally.

The Cabinet Committee on Economic Affairs gave its nod in this regard by approving an amendment to the existing 'Gold Policy 2018' in a meeting on Wednesday, reports UNB.

“I think this is a positive step. Now our importers can import raw gold and necessary equipment to refine it locally,” Finance Minister AHM Mustafa Kamal told reporters while briefing on the outcomes of the cabinet body meeting.

As part of a move to formalise the import of bulk gold from abroad, the government earlier framed the 'Gold Policy 2018' in order to check the smuggling of the precious metal.

Under this policy, businessmen can now import a certain amount of gold in bulk for jewellery manufacturing purpose after receiving licenses from Bangladesh Bank.

“Now, they can import unrefined gold as well to refine it in the country,” said the Finance Minister.