KARACHI: The Chairman Pakistan Gems Jewellery Traders and Exporters Association Akhtar Khan Tessori has taken a serious note of a recent news item about FATF’s recommendations to the Government of Pakistan to restrict the sale of gold jewellery on payment against credit and debit cards only.
This recommendation is reportedly based on some apprehension of purchase of gold and jewellery by terrorist organizations. The members of our Association are deeply perturbed as the vast majority of their buyers are people of limited means who buy jewellery on the wedding occasions of their children and most of them do not possess credit or debit cards.
The Association has summoned a meeting of their Managing Committee to discuss this issue. We are also in the process of obtaining relevant details about FATF’s exact recommendations in this regard from the relevant government quarters. The Association, however, would like to assure the government that its members will cooperate with the government to address any legitimate concerns about the investment, if any, by the terrorist organizations in gold or gold jewellery. News Desk
