November 7: Bullion traders from all over the country are demanding permission to import gold under open general licence (OGL) for passing the differential between the international and domestic prices to the consumers. The government has recently allowed three canalising agencies and eight banks to import gold under OGL for sale in the domestic market.

``If only nominated bodies will be allowed to import gold under OGL, then the benefits of price difference will not be passed on to the end users,'' All India Sarafa Association (AISA) president Sheel Chand Jain said.

The jewellers and ornament makers should also be permitted to import gold for use and sale in the domestic market on the pattern of MMTC, STC, HHEC and eight banks. Otherwise these agencies would sell gold on monopoly, Jain said adding that government's purpose to gradually make gold available in the domestic market at international prices would be defeated.

The demand for gold import under OGL was also made at a recent meeting of the Delhi bullion merchants association.

Delhi Bullion Market Association (DBMA) general secretary Shri Krishan Goyal said by allowing tourists to bring gold, the country would be earning more foreign exchange from the duty paid by them.