Daijiworld Media Network - Udupi (SP)

Udupi, Feb 6: All jewellery shops in Karnataka will remain closed for a day on February 10 to register their protest against the central government's directives, which have made it mandatory to collect PAN card details in cases of gold purchases exceeding two lac rupees. Chairman of Karnataka State Jewellers Federation, Novelty Jaya Acharya said. He added that the jewellers want to bring pressure on the government through this protest to withdraw the above rule.

Acharya said that the federation had sent memorandums a number of times to the union government to enhance the purchase limit to ten lac or at the most, five lac rupees, for enforcing PAN card requirement. He noted that the central government had not done anything positive in spite of these memorandums, and steps like candle light rally etc.

"In view of the negligence shown by the government towards our plight, we plan to close down jewellery shops for a day to register our protest. This law has delivered a blow to the habit of poor and middle class to save for the future by investing in gold. This rule will also encourage transactions without bills, which will generate black money. Instead of targetting mega rich people having crores of rupees in the form of black money, the above rule targets poor and middle class people. Therefore, the government should withdraw it and raise the minimum limit to ten or five lac rupees," Acharya demanded.