ISLAMABAD: After months of ‘ifs and buts’ between the Commerce Ministry and the Prime Minister’s Office, the government is finally set to resume the export and import of jewellery.
“Finally, the Prime Minister’s Office has authorized the Commerce Ministry to resume trade in gold. A summary in this regard has been sent to the Economic Coordination Committee (ECC) of the Cabinet for final approval,” said an official.
The Commerce Ministry has also proposed that the three-month suspension period of SRO 760 be condoned to protect the commercial commitments of gold traders made during that time. According to sources, the ministry has recommended linking gold trade with a robust verification mechanism to prevent the recurrence of such regulatory uncertainty in the future.
SRO to be reinstated soon, Jam tells APSGJTA
On August 8, 2025, Minister for Commerce Jam Kamal Khan had assured the All Pakistan Small Gems Jewellers & Tools Association (APSGJTA) that SRO 760 would soon be reinstated. He expressed satisfaction with the arguments and proposals put forward by industry representatives and exporters.
SRO 760(1) 2023, which governed the regulatory framework for the gems and jewellery trade, expired on July 8, 2025. Earlier, on May 2, 2025, the Federal Cabinet had suspended the SRO and constituted a committee to review it, identify loopholes, and recommend improvements within 60 days.
The committee held five meetings, conducted a detailed review of the SRO, and submitted its report to the Prime Minister’s Office on July 4, 2025.
Subsequently, on July 28, 2025, the Prime Minister’s Office directed the Ministry of Commerce (MoC) to engage private-sector stakeholders. These consultations took place on August 8, 2025, where jewellery exporters unanimously endorsed the committee’s recommendations.
Following the consensus, the Commerce Ministry submitted a formal note to the Prime Minister, recommending the reinstatement of SRO 760, noting that no discrepancies had been reported in trade data under the earlier regime.
The matter was also raised in the National Assembly Standing Committee on Commerce, where Chairman Jawed Hanif Khan repeatedly urged the ministry to resolve the issue without further delay.
With the Prime Minister’s Office now on board, final approval from the ECC is expected to pave the way for the resumption of legal gold and jewellery trade.
Copyright Business Recorder, 2025
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