KARACHI: Gem and jewellery exports from Pakistan have come to a complete standstill following the federal government’s sudden suspension of SRO 760(1)/2013 for two months, the key regulatory framework that facilitates the legal export of gold and jewelry.
The abrupt move has left exporters in limbo, with millions of dollars consignments stuck and international contracts at risk, sparking widespread concern across the industry.
The Pakistan Gems Jewellery Traders & Exporters Association (PGJTEA) has made an urgent appeal to Prime Minister Muhammad Shehbaz Sharif, calling for the immediate reinstatement of SRO 760(1)/2013 following its sudden suspension for next two months by the Ministry of Commerce.
In a letter to the Prime Minister, the association expressed deep concern over the unilateral decision, warning that it has severely disrupted the organized and compliant gold jewelry export sector. “This unexpected move has put our legal and transparent export operations in jeopardy, stranding consignments, threatening ongoing contracts, and damaging Pakistan’s export credibility,” PGJTEA Chairman Imran Khan Tessori.
Jewellery sector: govt temporarily suspends SRO regulating precious metals and gems
Tessori revealed that export consignments worth approximately $50–60 million are currently ready for shipment but cannot be exported due to the sudden suspension of SRO 760(1)/2013. He stressed that at a time when the country is in urgent need of foreign exchange, halting legal exports is an unjustified and counterproductive move.
The association clarified that its members have consistently operated within the legal framework, using only authorized channels to import gold, avoiding grey market practices, and focusing solely on exports not the domestic market.
They stressed that the suspension unfairly penalizes law-abiding exporters while doing little to curb illicit activities that lie outside the SRO’s scope.
Highlighting the economic implications, PGJTEA warned that the suspension comes at a critical time when Pakistan is striving to boost exports and stabilize foreign exchange reserves. “This policy reversal risks triggering a further decline in exports and undermines the livelihoods of thousands employed in the formal jewelry sector,” the letter stated.
PGJTEA Chairman Imran Khan Tessori has requested to the Prime for immediate reinstatement of SRO 760(1)/2013 to allow business continuity and clearance of all pending shipments and transactions to avoid losses and legal consequences.
He has also requested for inclusion of a PGJTEA representative in the investigation committee for fair and transparent review and empowering the committee to propose amendments that address misuse without harming compliant exporters.
While supporting the government’s efforts to enhance regulation and accountability, the association cautioned against blanket measures that disrupt legitimate trade. They urged the Prime Minister to act swiftly to restore confidence, prevent avoidable economic damage, and reaffirm Pakistan’s credibility in international markets.
The letter ends with a call for “prompt action in the national interest,” expressing trust in the Prime Minister’s leadership to steer the country’s trade policy in a more balanced and export-friendly direction.
Copyright Business Recorder, 2025
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