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Public jewelry purchasing strength decline: Ghazni Jewelers

Public jewelry purchasing strength decline: Ghazni Jewelers

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24 May 2023 - 20:03
Public jewelry purchasing strength decline: Ghazni Jewelers
author avatar
24 May 2023 - 20:03

GHAZNI CITY (Pajhwok): Some jewelers in southern Ghazni province have complained against dwindling jewelry business in the province and said people not willing to buy gold these days.

Jewelers linked dwindling business with the ongoing economic problems faced by the people, depreciation of dollar, high tariff and said jewelry business was going down and people have started selling gold instead of buying.

Abdul Rahim, a jeweler in Ghazni City, told Pajhwok Afghan News in the past more people were interested in purchasing gold and he was able to sell a necklace, ring or earrings daily but now even in two weeks they cannot find a customer.

He added: “Comparing to the past the gold business declined by 70 percent in Ghazni now. People now don’t buy gold but sell them and we also purchased gold from many people because the economic situation of the people had deteriorated.”

Abdul Rahim said in the past people used to purchase gold in this period of the year but this time people come to sell the gold their have instead of buying it.

This situation had made the jewelers worried and their business had suffered.

Rahmatullah, another jeweler in Ghazni City, said gold business had declined by nearly 70 percent and instead of purchase public brought their gold to sell them.

He added in the past their business thrived after Eid-ul-Fitr but this year the situation is different.

“In the past their business improved during the two Eids because more weddings were taking place during this time but this year the situation is different,” he added.

Noor Jamal, a local resident who brought gold to the market to sell, said he wanted to sell the gold he has ad open a business for himself.

He said in the past he and his wife had jobs but currently they lost their employment both.

He said that his wife worked in an NGO and he worked in a construction company but now both lost their jobs and had to sell their gold to start a new work.

He said now most people in Ghazni and other parts of the country were unemployed and asked the government to generate job opportunity for them.

Waheedullah, deputy head of the Ghazni Jewelars Union, told Pajhwok Afghan News public economic condition had deteriorated in Ghazni, poverty, unemployment an high tariff on products were some of the factors that contributed to the deteriorated situation.

“Public economic condition deteriorated in Ghazni and meanwhile gold rates had jumped comparing to the past. In the past one gram of gold was accounted for 3,500 afs while now one gram gold was accounted from 4,500 to 6,000 afs due to which people are discouraged to buy gold.”

Some other Ghazni residents linked the gold rate with the exchange rate and said the more dollor is appreciated the more the gold rate increase.

Ghazni Governor Spokesperson Hafiz Umar told Pajhwok Afghan News the economic situation of the country was not good and hoped hat situation would return to normalcy soon.

It is pertinent to mention that currently at least 100 jeweler shops existed in Ghazni City in which people invested millions of dollars.


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