After months of deliberation, the government is preparing to reopen the export and import of gold and jewellery. This decision is expected to end a three-month suspension that severely disrupted the jewellery sector and created uncertainty among traders.
The Commerce Ministry has received authorization from the Prime Minister’s Office to move forward with reinstating trade operations. A summary for final approval has now been forwarded to the Economic Coordination Committee (ECC) of the Cabinet.
Restoration of SRO 760 and Regulatory Reforms
The ministry has proposed that the three-month suspension of SRO 760 be officially condoned. This step would protect commercial commitments made by traders during the suspension period, ensuring that ongoing contracts and shipments remain legally valid.
To safeguard the system against future disruptions, the ministry also recommended establishing a robust verification mechanism. This would link the gold and jewellery trade to stricter transparency and compliance checks.
Officials suggest that the new structure will balance ease of business with tighter regulation to prevent misuse of trade channels.
Industry Engagement and Stakeholder Consensus
The latest move comes after a series of consultations between the Commerce Ministry and the private sector. Earlier in August, Commerce Minister Jam Kamal Khan assured the All Pakistan Small Gems Jewellers & Tools Association that SRO 760 would soon be reinstated. The announcement was met with optimism from industry representatives who had long urged the government to restore the policy.
The review process began when the Federal Cabinet suspended SRO 760(1) 2023 on May 2, 2025, following the expiration of its mandate in July. A special committee was formed to evaluate the regulatory framework and recommend improvements for future governance of the gems and jewellery sector.
Committee Findings and Policy Recommendations
The committee conducted five extensive meetings before submitting its report to the Prime Minister’s Office in early July. Its recommendations focused on tightening documentation, improving export tracking, and encouraging formal trade channels.
Following the report’s submission, the Prime Minister’s Office instructed the Commerce Ministry to hold consultations with key private-sector stakeholders. The feedback was overwhelmingly positive, with jewellery exporters unanimously endorsing the proposed measures.
Subsequently, the Commerce Ministry advised that SRO 760 be reinstated, emphasizing that no discrepancies were reported in trade data under the previous system. The ministry highlighted that the earlier framework had ensured smooth trade operations without notable violations.
ECC’s Final Approval Expected Soon
The issue also reached the National Assembly Standing Committee on Commerce, where Chairman Jawed Hanif Khan called for prompt government action. The committee emphasized the importance of restoring legal trade to curb smuggling and revive confidence in the formal market.
With the Prime Minister’s Office now supporting the proposal, the ECC’s endorsement is expected to be a formality. Once approved, gold and jewellery exports and imports will officially resume, reactivating one of Pakistan’s most valuable trade sectors.
Economic Significance of Gold Trade
The resumption of the gold and jewellery trade is anticipated to bring significant economic benefits. Industry experts believe that the move will help restore Pakistan’s position in the global jewellery market, boost exports, and generate much-needed foreign exchange.
Moreover, it is expected to revive employment in the sector and strengthen investor confidence, which had weakened during the suspension period. A transparent regulatory framework could also attract international buyers, improving the credibility of Pakistan’s precious metals market.
