Soaring gold prices put jewellers at risk

LAHORE: Soaring gold prices have put the jewellery shops in Lahore on high risk and can be a potential target for robbers.
Increasing prices have raised the security concerns for the jewellery shop owners as the government has not taken any security measures for them, Pakistan Today learnt during a survey conducted in order to check security measures adopted by the Lahore Police to ensure security of jewellers.
Suha Bazaar, Ferozpur Road and Gulberg’s jewellery market’s traders expressed their concern over the attitude of law enforcement agencies especially the Lahore Police. They said that providing security to the jewellery shops was an ‘additional burden’ on the police and in the past jewellers had remained prime targets of kidnappers and dacoits.
Sarafa Bazaar Union President Haji Nasim Ahmad told Pakistan Today that government had never assisted them with security and the jewellers themselves arranged for their own security by installing security cameras and by deploying guards for the protection.
“Each security guard costs around 15000, including his food and other expenses, which is hampering our income with other factors”, the owner of Saeed Jewelers at Gulberg said. Jewelry customers, especially women have also expressed their deep concerns on the security issue at the jewelry shops. Raiha Fareed who recently shopped for her sister’s wedding said “It’s an awful job to buy jewelry these days, not only because of the rising prices but also for the security reasons”.
“My father insisted that I should go jewelry shopping with my brother as it’s not only the valuables which could be considered at stake but also our lives”, she further added. In most of the jewelry markets the unions have taken self security measures especially at the Ferozpur road, where the union is responsible for the protection of shops and they charge the shop owners monthly for it.
Owner of a Jewelry Shop at Ferozpur Road named Hameed told Pakistan Today that the market union had been extremely cautious about the security measures primarily after the increase in gold prices. Police officials at the Ichhra Police Station said that they had already deputed policemen at major jewelry markets located at Ferozpur Road. They also said they would beef up the security if demanded by traders.