LAHORE, Jan 26: The continuous surge in gold prices has put the jewellery industry in shambles, which needs proper remedial measures by the government otherwise thousands of goldsmiths would be deprived of their livelihood.

Muhammad Ahmad, new chairman of the working committee of Gold

Art Promotion Council of Pakistan stated this at a reception held in honour of a joint 15-member delegation of the GAPCP, and Gold and Gold Craft here on Saturday.

The delegation led by Mr Ahmad and comprising jewellers from all over Pakistan will leave for Europe on Sunday.

Mr Ahmad said that the trend of gold jewellery was fast deteriorating as gold price shot up to Rs21,300 per 12 grams on Saturday.

The crisis could be overcome by enhancing the exports of gems and jewellery for which the government should announce a special relief package, he added.

He further said the GAPCP was striving to protect the industry from collapse and in this connection a delegation of the council would visit Dubai, Italy and European states to expand trade relations.

Besides chairman Muhammad Ahmad, Rana Muhammad Asghar and Syed Masood Ali were elected president and general secretary of the council for 2008.---APP