IBJA urges bullion traders not to join proposed strike

India Bullion and Jewellers Association (IBJA) today said it does not support the proposed strike by bullion traders tomorrow to protest against the Centre's policy of mandatory PAN requirement for transactions exceeding Rs 2 lakh.
"We are not in favour of the strike call... This strike has been called by some other association which is against the government's policy," IBJA said in a statement here.
The government has made it mandatory for buyers to produce PAN card on gold purchase of above Rs 2 lakh. The limit was Rs 5 lakh earlier.
"We request the entire gems and jewellery sector to think twice before observing such a strike," IBJA President Mohit Kamboj said.

"After many years, the government is being positive about the gold industry and has abolished many policies like 80:20 and other such policies that were implemented by the UPA government," he added.