ISLAMABAD: A high-stakes call to revive a suspended Statutory Regulatory Order (SRO) governing gold import and export is collecting dust at the Prime Minister’s Office, despite repeated reminders from the Commerce Ministry, tying the gold trade up in endless bureaucratic knots.
Well-informed sources in the Ministry of Commerce told Business Recorder on Wednesday that the All Pakistan Small Gems Jewellers & Tools Association (APSGJTA), in a letter addressed to Prime Minister Shehbaz Sharif, cited the Ministry of Commerce’s order dated May 6, 2025, issued by Assistant Chief (Trade Policy) Humera.
According to that order, SRO 760(1)/2025, which regulates trade in gold, was suspended for 60 days to curb alleged smuggling. However, the association argues that no evidence of such smuggling ever emerged.
SRO to be reinstated soon, Jam tells APSGJTA
The APSGJTA held a meeting with Commerce Minister Jam Kamal Khan on August 6, 2025, followed by a series of engagements in which the minister reportedly assured the group that a summary for the reinstatement of SRO 760, a key regulatory order governing gold imports and exports, would be sent to the Prime Minister’s Office.
According to sources, three such summaries have since been forwarded to the Prime Minister’s Office: the first 80 days ago, the second 60 days ago, and the most recent 15 days ago. Yet, none have been approved. According to the Association, exporters are increasingly anxious about their inability to fulfill export orders on time.
They claim to have received legal threats from international clients due to persistent delays, with some buyers warning of legal action if consignments are not delivered promptly.
“The suspension of jewellery exports has now exceeded six months, this is economic murder of exporters,” said Qari Muhammad Ashraf, Secretary General of the Association.
The National Assembly Standing Committee on Commerce also took serious note of the bureaucratic delay in its last meeting. The Committee chairman had directed Ministry of Commerce officials to engage with the PMO and resolve the matter promptly. However, sources said that no meaningful progress has been made by the Ministry to date.
On August 8, 2025, Minister for Commerce Jam Kamal Khan assured APSGJTA that the SRO would be reinstated soon, expressing satisfaction with the justifications provided by exporters and industry representatives.
The Ministry of Commerce also held a Zoom consultation with gold exporters, during which exporters urged the Minister to expedite reinstatement of the SRO.
Exporters highlighted that both import and re-export consignments were being delayed, including a 50-kg gold shipment currently stuck at port due to regulatory limbo.
The Standing Committee on Commerce held five meetings to deliberate on the SRO issue and finalized a report containing its recommendations. That report was submitted to the Prime Minister’s Office on July 4, 2025.On July 28, 2025, the PMO directed the Ministry of Commerce to hold further consultations with private sector stakeholders. Following this directive, the Ministry met with jewellery exporters again on August 8, 2025.
All participants unanimously endorsed the Committee’s recommendations. Subsequently, the Ministry of Commerce submitted a final Note to the Prime Minister, recommending the continuation of the SRO, stating that no data discrepancies had been reported.
Copyright Business Recorder, 2025
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