Cracking Down on the Gold Mafia
Intelligence agencies and law enforcement bodies in Islamabad have launched a significant crackdown against the gold mafia, targeting illegal activities related to gold smuggling.
Formation of a Task Force
Reports indicate that a dedicated task force has established for this purpose. This task force has compiled lists identifying members of the gold smuggling mafia and individual smugglers involved in these activities.
In addition to cracking down on illegal activities, the government has taken proactive steps to bring gold dealers within the tax system. This initiative aims to computerize the process of buying and selling gold, benefitting both citizens and the nation as a whole.
Impact on Gold Prices
As a result of these developments, gold prices in the market have been experiencing a decline.
To further regulate the gold trade and enhance transparency, a computerized system has developed to record and monitor gold transactions. This move has expected to promote transparency within the gold industry.