১৪ই নভেম্বর, ২০১৮ ইং | ৩০শে কার্তিক, ১৪২৫ বঙ্গাব্দ | দুপুর ১২:৪২

Govt has no control on gold sector: TIB

Suggesting that the country’s gold sector to be brought under a legal structure for legally importing the precious metal, Transparency International Bangladesh (TIB) has said the government has no control on this sector.
“Businessmen control the quality and market of gold in Bangladesh. This sector depend mainly on businessmen and smugglers due to lack of specific policy on gold,” said TIB Executive Director Dr Iftekharuzzaman at a press conference on Sunday.
The press conference was arranged to reveal the findings of a study conducted by the anti-graft watchdog.
“A section of employees and officials in law enforcement agencies, land port and airport have involvement in gold smuggling. Influential politicians, gold smuggling rackets, businessmen and some customs officers are responsible for not formulating a proper gold policy and not ending smuggling,” Dr Iftekhar said.
Despite being a potential sector, the gold sector was not flourished as an export-oriented industry for want of incentives, he said.
Despite being a potential sector, the gold sector was not floursihed as an export-oriented industry for want of incentives, he said.
The TIB boss also said the lion portion of gold is imported through smuggling. The daily tansaction in this sector is worth Tk 25 crore.
TIB has recommended to formulate a specific policy to bring transparency in country’s gold sector.
The recommendations include : transparency in gold market, protecting the rights of consumers, introducing gold certificate or gold bond and to prevent gold smuggling.
He said the government is failing to earn more revenue from this sector.

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