Bangladesh Jeweller's Association (BAJUS) has reduced exchange and alternate rates for gold ornaments for convenience of customers.
From now, jewelery companies will deduct 8 percent in case of exchanging their old gold ornaments or jewelery for new gold ornaments, says a press release on Monday (August 8).
The new deduction rate is 2 percent lower than the previous 10 percent so that the customers will get additional value on the items.
Besides, jewelery companies will cut 15 percent rate in case of buying old gold ornaments from the buyers, according to the statement signed by MA Hannan Azad, chairman of standing committee on pricing and monitoring of BAJUS.
The new alternate rate is 5 percent lower than the previous 20 percent.
BAJUS said in the notification that for a long time there was a rule of 10 percent deduction in case of exchange or change of gold ornaments and 20 percent deduction rule in case of purchase or purchase from the buyer.
The exchange and purchase rates of gold ornaments have been reduced for the convenience of buyers, according to the decision of a recent meeting of BAJUS.
As per the new norms, 8 per cent is fixed in case of exchange of gold ornaments and 15 per cent in alternate rate.
Besides, the minimum wage during the sale of gold ornaments has been fixed at Tk 300 per gram.
BAJUS has requested all jewelers across the country to follow the new rules in exchange for and purchase or buying and selling of gold ornaments.
BDST: 2042 HRS, Aug 08, 2022