BAJUS clarifies pricing mechanism after barrister’s remarks

The Bangladesh Jeweller’s Association (BAJUS) has contested recent claims that “someone” or “some groups” influence gold prices inside the country, and asserted that the prices depend entirely on international rates.

On Sunday, BAJUS issued a clarification statement after Barrister M Sarwar Hossain alleged irregular pricing practices.

None can influence the rates as the Bangladesh gold market solely relies on imports, read the statement issued by BAJUS Executive Secretary Khaled Akon.

BAJUS only operates as an effective mediator, promptly hiking and lowering prices in accordance with fluctuations in global rates, it added.

BAJUS also has a Standing Committee on Pricing and Price Monitoring to ensure fair pricing and timely adjustment with international fluctuations, BAJUS further said.