Jewellery traders and other bodies have long been demanding a fresh gold import policy as incidents of gold smuggling and seizure are on rise in the country. In the last four financial years, a total of 1,685.36 kg of gold was seized by the customs intelligence unit while they were being smuggled through the country’s border areas. The quantity indicates a sharp rise in gold smuggling. In comparison, 17.46 kg of gold had been seized in the previous nine financial years from 2004 to 2013.

The scenario changed dramatically from the 2013–14 financial year till the present, resulting in a seizure of 565.71 kg of gold between July 2013 and June 2014 alone. The total amount of seized gold has now reached 1,685.36 kg, valued at Tk. 791.07 crore, in the last 49 months from July 2013 to October 2017 (partial).

Meanwhile, the customs intelligence has arrested a total of 150 people during their anti-smuggling drives conducted with the help of law enforcement agencies, says a report of the Bangladesh Customs Intelligence and Investigation Directorate.

Those arrested have been regularly produced for action in line with court procedures and anti-smuggling laws, said sources in the customs intelligence unit.

But it is alleged that the cases have not made much progress, and the prime culprits and syndicates behind the gold smuggling have remained untouched. Besides, intelligence sources say that smugglers use the illegal gold to pay for their clandestine underworld businesses such as woman and child trafficking to neighbouring countries. Dr Iftekharuzzaman, executive director of Transparency International Bangladesh, said smugglers are being arrested in drives regularly conducted by law enforcers, but the key people always remain behind the curtain. The lack of a well-defined gold import policy has helped the smuggling of the precious metal to rise to an alarming level, he noted.  A well-defined gold import and business policy is a must to deal with the situation and to safeguard the industry, he added.

“Responding to the government’s call, we have sent recommendations on the issue, and a government body is working to form a draft policy in this regard,” he said.

Dr Mainul Khan, director general of Customs Intelligence and Investigation Directorate, described gold as the most precious ‘liquid asset’. He said underworld criminals have established their own routes, but the relentless efforts of the customs intelligence for the last four years have destroyed a lot of their channels, uprooting godfathers and syndicates permanently.

He claimed that tightening of security, installation of modern sensor devices and deployment of skilled manpower have improved the gold smuggling  situation. Policymaking is the task of the government and their job was to secure the border, he noted.

Meanwhile, the Bangladesh Jewellers’ Samity (BJS) has maintained that a clear policy is essential to protect the jewellery industry. It has alleged that after people are being harassed since the seizure of Apan Jewellery. Dilip Kumar Agarwala, general secretary of BJS and owner of Diamond World Ltd, said a gold import policy is badly needed to protect the gold and jewellery business.  Around 20,000  jewellery shop owners and 28 lakh workers and members of their families across the country are suffering in the absence of a definite policy, he added.

“We’ve sent several appeals and letters to the Prime Minister’s office, ministries concerned, Bangladesh Bank and the National Board of Revenue for a definite policy. We met commerce minister Tofael Ahmed and placed our demands earlier this month,” the BJS leader said. “We demanded a policy pertaining to gold Business and import by December this year and the finalisation of its rules by this financial year,” he added.

Agarwala said that BJS has already sent a draft policy to the government in response to the appeal of the commerce ministry, which is working to form a policy.