Kathmandu: Nepal Police today seized 88 kg of gold smuggled via the Kerung checkpoint near the China border, the biggest seizure of illegal yellow metal in the country. The gold was seized from a vehicle in Kathmandu. The Nepali driver of the vehicle has been arrested, police said.
Metropolitan Crime Division's Senio Superintendent of Police Dibes Lohani said a preliminary investigation showed that the gold was brought into the capital via the Kerung checkpoint, situated near the Tibet border.
Although the demand for gold in Kathmandu Valley's market has been estimated around 40 kg per day, only half of the gold is supplied through legal channel, leading to a mismatch in demand and supply of the precious metal.
The demand for gold is expected to increase in the coming months ahead of Vijaya Dashami and Deepawali, and also due to the approaching wedding season.
On August 31, the police seized around 15 kg of gold smuggled from China and arrested seven persons. PTI
