"We want to build a modern jewellery institution to compete in international markets"
A three-day long gold fair is going to be held at Dhaka's Hotel InterContinental from June 23-25 for the first time in the country following the government's offer to legalize undeclared gold.
Bangladesh Jewellers Samity (BAJUS) General Secretary Dilip Kumar Agarwala announced it to the media at a discussion meeting at the Officers' Club, Dhaka.
Dilip noted that earlier there were no rules and regulations relating to gold in the country. On behalf of BAJUS, he thanked the government of Prime Minister Sheikh Hasina for bringing in the legal framework within which they can now operate with a certain confidence.
"We can have a positive role in the Gross Domestic Products (GDP) of the country's economy If the government supports us. We want to build a modern jewellery institution to compete in international markets," he said.
"Fix duty on gold observing neighbouring countries," he urged the government.
"We will organise gold fair on June 23 to 25 in Dhaka. Finance Minister AHM Mustafa Kamal will inaugurate the fair. It will open from 10 am to 5 pm. Besides, the fair will be held on June 23 and 24 in divisional cities," Dilip Kumar added.
"A vested quarter discouraged traders to attend the fair and said that if you attend it, you may face problems later. However, don't be afraid. National Board of Revenue (NBR) has assured us that there will be no hassle. So I urge all gold traders to take part in the fair," he also added.
However, in a notification on May 28, 2019, the NBR said that if any trader wants to disclose their undeclared stock of gold, they will have to pay Tk1,000 per Vori (each Vori or 11.664 grams).