The gold shops and markets across Kashmir valley remained closed for third consecutive day today and traders continued protests against the proposals to raise duty on gold imports and levying excise duty on unbranded jewellery.
Two major gold markets in Kashmir at Hari Singh High Street and Saraf Kadal remained closed and gold smiths protested against the budgetary proposals of the Union Government. The Gold Smiths Association held protests at Hari Singh High Street and Partap Park against the proposal.
The general secretary of the Association, Abdul Samad Zargar, said that for past several years the gold prices went up and it has affected the gold trade as common people can't afford it now.
He said that proposed hike in import duty on gold and levying of 1 percent excise duty on non-branded jewellery would affect business and wipe-off the existence of small jewellers in the state.
The gold smiths demanded roll back of the budgetary proposals. They urged the Chief Minister Omar Abdullah to use his influence for getting these proposals revoked.
Meanwhile, a meeting of retailers and small jewellers was held at Reasi under the presidentship of Vijay Abrol, wherein they protested against the Central Government’s decision to impose excise duty of 1 per cent on unbranded jewellery and 4 per cent import duty on gold.
In the district, jewellery shops remained closed for the third consecutive day on the call given by All India Sarafa Association.
