The caretaker government has constituted a task force consisting of law enforcement and intelligence agencies for decisive action against the “gold mafia” and smuggling of precious metals, state-run *Radio Pakistan* reported on Friday.
A major crackdown has already been initiated against elements involved in illegal activities in the bullion market, it said.
According to details, the task force has prepared lists of those involved in gold smuggling.
Apart from this, the government has also started work on an emergency basis to bring the gold dealers into the tax net and to computerise buying and selling of the yellow metal.
As reports emerged that law-enforcement personnel were conducting a crackdown against some sections of the market, traders have refrained from issuing bullion rates link in the last three days.
The price of 24-carat gold link had closed at Rs215,000 per tola on Tuesday, September 12, according to rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) back then.
The development comes as the caretaker government initiated a large-scale crackdown against illegal economic activities link such as smuggling and hoarding. It resorted to take action against all those involved in speculations in different markets, which resulted in some positive outcomes.