ISLAMABAD: The Federal Cabinet has ratified the Economic Coordination Committee’s decision to reinstate Statutory Regulatory Order (SRO) 760 several weeks after its approval, sources in the Ministry of Commerce told Business Recorder.
The ECC, chaired by Finance Minister Senator Muhammad Aurangzeb, had approved the revival of SRO 760 on October 24, 2025.
Earlier, on August 8, 2025, Commerce Minister Jam Kamal Khan assured the All Pakistan Small Gems Jewellers & Tools Association (APSGJTA) that SRO 760 would be restored soon. He expressed satisfaction with the arguments and proposals presented by industry stakeholders and exporters during the consultation process.
SRO 760(1)/2023—governing the trade framework for the gems and jewellery sector—expired on July 8, 2025. Prior to its expiry, the Federal Cabinet suspended the SRO on May 2, 2025, and formed a committee to review it, identify loopholes, and recommend improvements within 60 days.
The committee held five meetings and conducted a detailed review. Its final report, containing several recommendations, was submitted 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 to hold consultations with private-sector stakeholders. These consultations took place on August 8, 2025, during which jewellery exporters unanimously endorsed the committee’s recommendations. Following the consensus, the Commerce Ministry submitted a note to the Prime Minister recommending the reinstatement of SRO 760, stating that no discrepancies had been reported in trade data under the previous regime. The matter also came under discussion in a meeting of the National Assembly Standing Committee on Commerce, where Chairman Jawed Hanif Khan repeatedly urged the ministry to resolve the issue without further delay. Sources added that the Commerce Ministry is expected to reinstate the SRO within the next few days, as the industry has expressed concern over what it views as an undue delay on the part of the government.
Copyright Business Recorder, 2025
Comments
Comments are closed for this article.