The Cabinet allowed selling gold and silver to jewelry companies at prices lower than the world price.

Евгения Комарова Economy
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The resolution "On the approval of the procedure for the implementation of precious metals by domestic jewelry manufacturers" has received approval from the Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Adylbek Kasymaliev. As reported by the State Tax Service, according to this document, local jewelers will be able to purchase precious metals at a special discounted price.

According to the new rules, jewelry companies will be able to buy precious metals with a 2% discount from the international price, which is determined by the fixing of the London Bullion Market Association.

In addition, pawnshops and buying points will have the opportunity to sell to the state:

This measure will allow the state to accumulate the necessary raw materials. Control over the further implementation of precious metals to jewelry enterprises will be carried out by a special state body.

Previously, the Deputy Head of the State Tax Service, Kubanychbek Isabekov, reported that Kyrgyzstan annually extracts up to 26 tons of gold; however, 90% of the jewelry in local stores consists of imported goods.
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