LAHORE: Police have launched an investigation after more than Rs1 billion worth of gold was reported missing from a shop in Ichra’s Latif Jewellery Market in Lahore, according to traders and law enforcement officials.
Jewellers in the market said that over 20 kilograms of gold had been kept in trust with a local trader, identified as Sheikh Waseem Akhtar. Concerns were raised after the trader failed to appear at his shop for several days, prompting fellow traders to break open the locks of the storage locker.
Traders claimed that the locker was found empty and that the gold, collectively valued at nearly Rs1 billion, was missing. One shopkeeper also alleged that the trader had taken a committee amount of Rs 6 million.
Police confirmed that a formal complaint has been registered at Ichra police station by Muhammad Ahmad, one of the affected jewellers. Officials said an inquiry has been initiated and is being examined from multiple angles.
A police spokesperson said a complaint regarding the missing gold had been received but added that preliminary findings suggest the matter may involve a financial dispute rather than a case of theft. The spokesperson said reports circulating in the market describing the incident as a theft or disappearance do not fully align with facts established so far.
Police also said that despite claims of multiple affected parties, only one complainant has formally approached authorities and is currently hesitant to pursue further legal action.
The investigation is being supervised by SP Model Town Shehrbano under the directives of the DIG Operations. Police said the inquiry is ongoing and that further details will be shared with the media as they emerge.
