FE REPORT
Around Tk 730 billion is being laundered from the country annually through gold smuggling, Bangladesh Jewellers' Association (BAJUS) claimed on Saturday, urging the government to take stern actions immediately to stop the illegal trading.
They estimated that illegal gold ornaments and bars are being smuggled into Bangladesh by waterways, land and air routes, siphoning off hard-earned foreign currencies equivalent to at least Tk 2.0 billion every day.
Revealing their estimates at a press conference at the association's office in the city, the BAJUS also requested the government to form a separate monitoring cell involving the association to identify the gold smugglers.
They also suggested amending existing laws, if necessary, to punish the smugglers.
Enmaul Haque Khan, chairman of BAJUS standing committee on Anti-Smuggling and Legal Enforcement, spoke at the press conference.
AJUS vice-chairman Bidhan Malakar, members Ikbal Uddin, Swapon Chandra Karmakar, Bikash Ghosh and Babul Rahman, among others, attended the event.
The BAJUS leaders also proposed to conduct a survey in association with the Bangladesh Bank and the National Board of Revenue (NBR) to find out the impact of smuggling and misusing the facility to bring gold bars and ornaments under baggage rule on the foreign exchange market.
They expressed concern that the value of local currency, BDT, against foreign currencies, including the US dollar, is depreciating constantly, affecting the gold market.
The leaders urged the government to formulate hallmark and diamond policies to help improve the quality of the jewellery industry and said the standing committee has already started working on it.
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