Govt Set to Launch Crackdown Against Smuggling of Gold

The caretaker government is set to launch a crackdown against the smuggling of gold in the country. According to a report in Business Recorder, the interim government has devised a plan under which individuals involved in the smuggling of gold will be targeted. The report further says that the government has also decided to take measures to bring the dealers of the precious metal into the tax net. This is not all, the plan also includes introducing a computerized system for the sale and purchase of gold. The regulatory measures will not only help the government in collecting more tax revenue but will also help the buyers of gold. As far as the crackdown against the smuggling of gold is concerned, law enforcement agencies will soon initiate the crackdown. A task force, comprising officials of law enforcement agencies and intelligence agencies will lead the action against smuggling of the precious metal. The report says that the task force has already prepared lists of gold smugglers and they will be prosecuted as per the law. It is pertinent to mention here that gold prices registered the biggest weekly decline last week, as prices went down by close to Rs. 30,000 per tola. However, the prices have rebounded in recent days.