Islamabad, May 5, 2025 – President of the All Pakistan Sarafa Gems and Jewelers Association, Qasim Shikarpuri, has strongly criticized the government’s latest economic policies, calling them a fresh assault on the already struggling business community. He specifically objected to the inclusion of jewelers in the new Tax Laws (Amendment) Ordinance 2025, under which they have been classified as Designated Non-Financial Businesses and Professions (DNFBPs), placing them under anti-money laundering regulations. According to Shikarpuri, this step is unfair and seems more like a targeted move against small and medium traders. He said that linking jewelers to money laundering is misleading and damaging. “People involved in money laundering don’t buy jewelry,” he explained. “They avoid it because when they try to resell it, they lose 20 to 25% of the value. No one involved in illegal money transfers would accept such a loss.” He added that the business sector in Pakistan, especially jewelers, is already facing immense financial challenges due to inflation and reduced customer spending. “Instead of offering support, the government is adding more pressure and treating honest traders as criminals,” he said. Shikarpuri pointed out that while wealthy…