7000 Jewellery shops closed in Chennai today - loss of Rs. 250 Crores trade
Posted on: 11/Feb/2016 4:24:59 PM
The central government has ordered that all persons buying gold worth over Rs. 2 Lakhs must furnish their PAN Card details from 1st January this year.
The people who desire to buy gold & jewellery worth over Rs.2 Lakhs encounter certain difficulties in the above order. So, many people who come to buy jewellery, return without buying.
So, the jewellery shop owners have observed 1 day`s token strike today (11th February, Thursday) protesting against the above order and demanding the limit for showing PAN card details to be raised to Rs. 10 Lakhs
So, around 7000 jewellery shops in Chennai remain closed today in all the areas including T Nagar, Purasaiwalkam, Mylapore, Washermanpet, and Tondiarpet.
The Board, Bandh is displayed in front of every jewellery shop.
People who have from outside places have to return disappointed.
Gold Jewellery Traders Association President Jayanthilal explained that around an average of 1kg of gold gets sold every day in Chennai. Today`s strike will mean that the trade will be affected by Rs. 250 Crores.
Jewellery shops in other cities like Trichy, Madurai, Salem, Coimbatore, Erode, Thirunelveli, and Nagercoil.
