Tuesday, 9th January 2007 (3827 views)

The amount of pure gold being imported into Pakistan from July to November last year has fallen, according to the Federal Bureau of Statistics.

Figures reveal that the total amount of imported pure gold fell by Rs31.75 million (£0.27 million) over the five month period to 7,344 kg worth Rs7,085 million (£59.8 million), compared to Rs10,381 million (£87.7 million) on 12,064 kg of gold during the same period in 2005, reports the International News.

Analysts believe that the fall in the legal importing of pure gold is due to the introduction of a one per cent tax on transactions of pure gold as well as the increasing international bullion rates following the rise in global oil prices.

Following the drop in gold import levels there has also been a fall in Pakistan's jewellery exports. The latest figures reveal that a total of Rs244 million (£2.06 million) of jewellery was exported over the five-year period, compared to Rs490 million (£4.14 million) in July to November 2005.

However, it is predicted that the sale of jewellery could be set to improve following a decline in rates to Rs12,200 (£103.01) per ten grams of 24-carat gold.

 

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