Commerce ministry fails to secure ECC nod on SRO 760 reinstatement
ISLAMABAD: The Ministry of Commerce has reportedly failed to secure ratification of the Economic Coordination Committee’s decision regarding the reinstatement of Statutory Regulatory Order (SRO) 760.
The ECC, chaired by Finance Minister Senator Muhammad Aurangzeb, had approved the revival of SRO 760 on October 24, 2025.
SRO 760 is a Statutory Regulatory Order in Pakistan that regulates the import and export of precious metals, gemstones, and jewellery
“This process of approvals and notifications appears to be intentionally designed to delay the reinstatement of the export sector.
Pakistan govt set to resume jewellery trade after months of delay
The suspension was time-bound for 60 days, and legally the SRO should have been reinstated on the 61st day — July 5 — in its original form. Will the Ministry of Commerce answer why the SRO was not reinstated on the 61st day if there is so-called democracy in the country?” demanded Arif Patal, one of the victims of the suspended SRO.
On August 8, 2025, Commerce Minister Jam Kamal Khan 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 stakeholders and exporters during the consultation process.
SRO 760(1)/2023, which governed the trade framework for gems and jewellery, expired on July 8, 2025. Prior to its expiry, the Federal Cabinet had suspended the SRO on May 2, 2025, and formed a committee to review it, identify loopholes, and propose improvements within 60 days.
The committee held five meetings and carried out a detailed review of the SRO. 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 instructed the Ministry of Commerce to consult private-sector stakeholders. These consultations were held on August 8, 2025, where jewellery exporters unanimously endorsed the committee’s recommendations.
Following this consensus, the Commerce Ministry submitted a note to the Prime Minister recommending reinstatement of SRO 760, stating that no discrepancies had been reported in trade data under the previous regime.
The matter was also taken up in the National Assembly Standing Committee on Commerce, where Chairman Jawed Hanif Khan repeatedly urged the ministry to resolve the issue without delay.
With the Prime Minister’s Office now on board, formal approval from the ECC is expected to pave the way for the revival of legal gold and jewellery trade.
Meanwhile, the Commerce Ministry’s Sectoral Council for Gems and Jewellery is scheduled to meet on Wednesday (Nov 19) to discuss issues pertaining to both sectors.
Copyright Business Recorder, 2025