A Proposal To The Government To Reduce The Gold Import Tax By 50 Percent

The National Gem and Jewelry Authority had proposed the government to reduce the Gold import tax by 50 percent from 15 percent to 7.5 percent in view of  saving local Gold Industry according to the Authority.

As the Governmemt had increased the Gold Import tax from 4.5 percent to 15 percent recently to avoid gold Smuggling, a Gold shortage has been created in the county at present and Goldsmiths facing enormous difficulties in the industry the Authority has stated.

Due to the recent increase of the Gold Import Tax the Prices of Gold and Jewelry in the country too had been increased .

At present the Gold prices in the world market had been decreased.