LAHORE: President of the Gold & Gems Art Promotion Council of Pakistan and Central Chairman of the Lahore Division Sarafa & Jewellers Association, Muhammad Ahmed, has welcomed the government’s decision to lift the ban on the import and export of gold.
In a statement, he said the move would have far-reaching positive effects on the country’s gems and jewellery industry. He noted that rising gold prices can only be effectively addressed through increased exports, making this decision both timely and essential.
He recalled that due to SRO 760(13)14, the national gems and jewellery sector had come to a standstill, leaving thousands of craftsmen unemployed, while internationally India gained an open and competitive advantage, which it fully capitalised on.
Muhammad Ahmed expressed gratitude to the Prime Minister of Pakistan, Mian Shehbaz Sharif, Federal Minister for Commerce Jam Kamal Khan, and Commerce Secretary Jawaid Pal Khawaja and stressed that exporters must be provided necessary relief to compete effectively with India on the global stage.
He also emphasized the need to review the current export mechanism for gems and jewellery and to introduce policies that encourage greater participation in the export sector, thereby increasing national gems and jewellery exports and strengthening the country’s foreign exchange reserves.
He further stated that the existing customs procedures for gems and jewellery exports remain a major hurdle and must be revisited; otherwise, this important government initiative may fail to deliver the desired results.
Copyright Business Recorder, 2025
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