Monday, July 22, 2024

Task Force Formed for Action Against ‘Gold Mafia’

Pakistan’s caretaker government has formed a task force, including law enforcement and intelligence agencies, to combat illegal activities in the gold market, including gold smuggling.

This crackdown aims to bring those involved in gold smuggling into the tax system and digitize gold transactions. Law enforcement operations have led traders to avoid providing bullion rates recently. The price of 24-carat gold had previously surged but has now declined due to the government’s actions against smuggling and hoarding.

This crackdown has also helped stabilize the Pakistani rupee and contributed to lowering gold prices. The government is determined to address various forms of smuggling and hoarding to stabilize the economy.

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