Jewellers observe strike against PAN card rule

Tribune News Service

Chandigarh, February 10

Most of the jewellery shops observed one-day token strike in Chandigarh on Wednesday to protest against the government rule making PAN card proof mandatory on gold purchases of Rs 2 lakh and above.

The strike was observed on a nationwide call given by the All-India Gems and Jewellery Trade Federation (GJF).

“We oppose the regulatory measure which has badly hit millions of jewellers and artisans in the industry,” said Vinod Talwar, president of the Jewellers’ Association of Chandigarh.

He said the new norm which came into effect from January 1, had already resulted in 30 per cent loss in their business with expected job loss.

He said the PAN card rule had discouraged a majority of semi-urban and rural jewellery buyers, who were engaged either in farming with no income tax obligation or in small trade practices.

“With just 22.3 crore PAN cards issued in India, how can the industry survive with such restrictions?” Talwar asked.

“To begin with, we have held a token strike today and all the traders will keep their shops closed. We want the government to hear our views. If not, we will further intensify our protest after the budget session,” he threatened.

He claimed the slowdown had affected jobs of millions of workers, artisans and small traders.

The protesting jewellers urged the Union Finance Minister to revise the limit to Rs 10 lakh instead of the present Rs 2 lakh.