Gold traders of the city kept their shops and establishments closed on Wednesday against the rule of Central Government that makes it mandatory for customers to provide a PAN card on all jewellery transactions of Rs 2 lakh and above.
Several jewellery and gems shops remained closed at places like Abids, Sultan Bazar and Pot Market to register their protest against the new rule and extended their support to daylong countrywide strike.
Mohan Lal Jain, Zonal member of All India Gem and Jewellery Federation said traders demand making PAN card mandatory on transaction of 10 lakh and above. He told that only 18 percent of the population posses PAN Card in the country. Jewellers claim that the new regulation will cut down the sales by 30 percent.