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While India and Pakistan may differ on many fronts, one passion unites both nations: a love for gold. From weddings to festivals, gold plays a central role in celebrations. Yet, the price Pakistanis pay for gold far exceeds what is paid in India, reaching levels that are hard to imagine.
Recent reports indicate that the price of 10 grams of 24-carat gold in Pakistan is 430,500 Pakistani rupees. At such rates, purchasing gold would be prohibitively expensive for many.
The Pakistani rupee is significantly weaker than the Indian rupee. Even after conversion, Pakistanis pay roughly Rs 13,000 more than Indians for every 10 grams of gold, making it considerably more expensive there.
This naturally raises a business idea: “If we buy gold in India at lower prices and sell it in Pakistan, we could earn lakhs of rupees in profit.” The price difference makes such a venture seem highly lucrative.
Though the idea sounds lucrative, it isn’t that simple. Exporting gold from India requires government permission, and taking it across the border without authorization is illegal and a serious criminal offence.
The situation in Pakistan is different. To stabilize their economy, the government often imposes bans on gold imports. Recently, a 60-day ban led to a shortage, driving gold prices sharply higher.
Thinking about smuggling gold would be a grave mistake. Illegally transporting gold is smuggling; if caught, the metal will be confiscated, the money lost, and one could face jail time, risking one’s reputation and livelihood.
The low value of the Pakistani rupee is the main reason for this price difference, making it a relief that gold remains more affordable in our country.