Traders surround FBR team in Saddar
MG News | May 20, 2026 at 10:19 AM GMT+05:00
May 20, 2026 (MLN): A five-member FBR team arrived at Saddar's Sarafa Bazar under the supervision of an Assistant Commissioner to monitor a jeweller's stock, sales, and production, carrying an official notice for the purpose.
The team, which included an officer, two auditors, and a
constable, came in plain clothes without introducing themselves.
The incident comes amid already heightened tensions in
Karachi's jewellery trade.
Earlier,
traders at Karachi Jewellers Centre had staged a fierce protest against an
alleged illegal FIA raid, forcing all shops to shut down completely.
The Jewellers Association declared the operation unlawful
and demanded an immediate end to harassment.
However, just two
days later, the trade body struck a conciliatory tone, reaffirming full
support for the FIA in its fight against smuggling and money laundering,
following a meeting with the FIA Karachi Zone Director, who assured that
legitimate traders would be protected and action taken only against those
involved in illegal activities.
Despite that understanding, fresh tensions erupted when the
FBR team entered a jeweller's shop, a large number of traders gathered at the
scene and surrounded the team in protest.
During the confrontation, an identity card was shown to the
traders.
With tensions running high and traders refusing to stand
down, the FBR team was forced to leave without completing its work, according
to media reports.
Traders in the area remain enraged over what they describe
as violence against jewellers following the FIA and FBR actions in Saddar.
Copyright Mettis Link News
Related News
| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 163,371.87 38.49M | 0.29% 475.19 |
| ALLSHR | 98,740.92 85.61M | 0.30% 291.23 |
| KSE30 | 48,807.03 30.43M | 0.25% 119.56 |
| KMI30 | 234,670.12 27.62M | 0.35% 820.81 |
| KMIALLSHR | 64,286.79 44.57M | 0.37% 238.70 |
| BKTi | 44,328.54 6.09M | -0.04% -18.52 |
| OGTi | 34,668.28 2.24M | 0.71% 245.33 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 76,780.00 | 77,090.00 76,465.00 | -55.00 -0.07% |
| BRENT CRUDE | 110.71 | 111.49 110.16 | -0.57 -0.51% |
| RICHARDS BAY COAL MONTHLY | 110.00 | 0.00 0.00 | -7.75 -6.58% |
| ROTTERDAM COAL MONTHLY | 111.50 | 111.50 111.50 | 0.90 0.81% |
| USD RBD PALM OLEIN | 1,191.50 | 1,191.50 1,191.50 | 0.00 0.00% |
| CRUDE OIL - WTI | 103.73 | 104.45 103.12 | -0.42 -0.40% |
| SUGAR #11 WORLD | 15.04 | 15.13 14.69 | 0.31 2.10% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
| Name | Last | Chg/%Chg |
|---|
| Name | Last | Chg/%Chg |
|---|
Banking Sector Spreads