Sunday, 9 February 2014

Gold control

Sample Letter to the Editor

Gold control
Changes in the Gold Control Rules announced by the Finance Ministry recently have led to new difficulties. Golsmiths who have not obtained a licence have not obtained a licence have been allowed to manufacture ornaments of higher purity than 14 carats after melting old ornaments of the customers. This amendment has ceated a loophole. There will be no effective check in illegal manufacture of ornaments of more than 14 carats purity as undeclared and even smuggled gold can be used by being given and accepted as old ornaments. It is not surprising that the trade in 14 carat gold ornaments has declined considerably.
The discrimination made between dealers and licensed goldsmiths in the  matter of acceptance of gold ornaments for conversion into new ornaments of the same purity should be removed. The dealers act as guarantors between the goldsmiths and the customers. Why should they be deprived of his position which brings them some income and security and satisfaction to the customers.
Yours, etc.

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