Informal gold trade drains revenue, distorts prices
LAHORE: Pakistan’s largely informal gold market is eroding economic value, weakening consumer confidence and discouraging investment, with more than 90% of transactions taking place outside formal channels, the Pakistan Business Forum (PBF) has warned. According to a statement issued on Friday, the Forum said Pakistan consumes an estimated 60 to 90 tonnes of gold annually, yet most transactions remain undocumented. This widespread irregularity, he said, distorts prices, encourages smuggling and underpricing and leads to significant revenue losses. The country is also heavily dependent on imports, with gold imports estimated at around $17 million in FY2023-24. The Forum said the sharp
