The economics of gold smuggling

``Evidence seems to indicate that gold smuggling is not going to stop anytime soon. Since it is not going to stop, then I submit that the best way to manage the gold smuggling epidemic in Bangladesh is to eradicate the restriction on the import of gold bullions for the time being and charge a very low import duty (e.g. 0.25 percent) on them. Since these activities are taking place anyway, it might be more prudent to bring them within the folds of the law so that the government would be able to collect some revenue from such activities.''