BAJUS warns against jewellery sector’s negative publicity over Diamond World owner's arrest

The Bangladesh Jeweller’s Association (BAJUS) on Thursday said an allegation against an individual should not be allowed to cast the entire jewellery sector in a negative light.

It urged all concerned to play a responsible role in media coverage of the arrest of Diamond World Ltd Managing Director and former BAJUS General Secretary Dilip Kumar Agarwala.

In a statement signed by its President Enamul Haque Khan, the association said it was aware of the arrest of Dilip Agarwala.

"BAJUS always stands against injustice and irregularities and does not support any unethical activity," the statement said. 

"However, it is not appropriate to indiscriminately subject the whole jewellery sector to negative propaganda because of any allegation."

The association said the jewellery sector has been making a significant contribution to the economy, revenue collection and employment generation.

Around 40,000 traders and 28 lakh people are directly and indirectly involved in the sector.

BAJUS said the elected government has taken various initiatives since assuming office to bring the sector under a disciplined, modern and institutional framework.

It said it has been working for the past eight months in coordination with the relevant ministries and departments to modernise and amend the Gold Policy 2018 (amended in 2021), and to keep policy initiatives on track.

"If the normal business activities of this sector are disrupted, legal trade will shrink and various government revenue collection may be affected," the statement said.

It warned that millions of people could lose their jobs, and part of the domestic market could shift overseas, leading to capital flight.

"We do not want the progress of a promising industry to be hindered because of any incident or allegation," BAJUS added.

Describing Diamond World Ltd as a business organisation which provides the employment and livelihoods to many people, it said due importance must be given to ensure that innocent officials, employees and their families are not unduly harmed because of allegations against an individual.

BAJUS said it believes the positive progress of the jewellery sector will continue through the rule of law, justice, a responsible media environment and the cooperation of all concerned.

"In the interest of developing the country's gold and diamond industry, expanding legal trade, creating employment and increasing national revenue, we expect a responsible and positive role from all concerned," the statement said.�" UNB