Govt, traders to blame for gold smuggling: TIB

Lack of policy and absence of implementation of law are responsible for gold smuggling in the country, Transparency International Bangladesh (TIB) said today.

Not only the businessmen, but also the government has to shoulder the responsibility of gold smuggling, the transparency watchdog said in a statement.

It also urged the government to ensure clarity in implementing a new policy in the gold sector in the proposed budget and to maintain accountability.

Dr Iftekharuzzaman, executive director of TIB, said customs intelligence must carry out the ongoing drives against all organisations without any intimidation or pity.

“There should not be any illegal influence or bar from concerned business association or any others quarters, which is illogical, unethical and illegal,” he said.

The statement comes in wake of seizing undocumented gold of Apan Jewellers which prompted other gold traders to unite and push the government to return the gold.

The jewelry business will be more flourishing and sustainable if there is a complete, timely and transparent gold import and business policy, the TIB statement said.