The Cabinet of Ministers of Kyrgyzstan has approved a new procedure regarding the implementation of precious metals for local jewelry manufacturers. The signing of the relevant resolution was carried out by the Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Adylbek Kasymaliev.
This document has been developed to align the legislation of the Kyrgyz Republic concerning operations with precious metals and stones with the Law "On Precious Metals and Precious Stones," as well as the Presidential Decree aimed at supporting certain sectors of the economy. It grants jewelry manufacturers the right to purchase precious metals and stones obtained by the Cabinet of Ministers on a priority basis, which is necessary to ensure their raw materials within the country. The procedure for this purchase will be determined by the Cabinet of Ministers, as noted in the government’s statement.
According to the new resolution, domestic jewelry manufacturers will be able to purchase precious metals at a 2% discount from the fixed prices of the London Bullion Market Association.
Organizations engaged in the purchase and pawnshops that work with precious metals and stones have the right to sell jewelry, as well as scrap precious metals and stones, to the authorized state body responsible for implementing state policy in this area, with the exception of products made from these materials.
Information that the Cabinet of Ministers of Kyrgyzstan has approved the Procedure for the implementation of precious metals for domestic jewelry manufacturers was first published on the K-News website.
