ISLAMABAD: After months of uncertainty, the Commerce Ministry has issued an order reinstating the export and import of gold, thereby enabling exporters to once again avail the mandatory 120-day entitlement period under the Entrustment Scheme.
The order was issued following approval of the proposal by the Economic Coordination Committee (ECC) and subsequent ratification by the federal cabinet.
According to SRO 2198(I)/2025, issued on November 21, 2025, the Commerce Ministry stated that, in exercise of powers conferred by sub-section (1) of Section 3 of the Imports and Exports (Control) Act, 1950 (XXXIX of 1950), the Federal Government has directed that the following amendments be made to the Import and Export of Precious Metals, Jewelry and Gemstones Order, 2013:
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According to SRO 2198(1) 2025 issued on November 21, 2025, Commerce Ministry said that in exercise of the powers conferred by sub-section (1) of section 3 of the Imports and Exports (Control) Act, 1950 (XXXIX of 1950), the Federal Government is pleased to direct that the following further amendments shall be made in the Import and Export of Precious Metals Jewelry and Gemstones Order, 2013, namely:
In the aforesaid Order, - (a) in the short title, after the word “Metals”, the word “and” shall be inserted and thereafter the words “and Gemstones” shall be omitted; (b) in clause 2, in paragraph (j), after the word “passbook”, occurring for the second time, the commas and words “, either paper or digital,” shall be inserted; (c) (d) in clause 3, - (i) in sub-clause (2), for rider clause, the following shall be substituted, namely:- “The import of precious metals and gemstones and export of jewelry made up of precious metals, gemstones or a combination thereof, shall be allowed under the following schemes, namely:-”; and (ii) in sub-clause (9), after the word “the”, occurring for the second time, the word “same” shall be inserted and after the full stop at the end, the following shall be added, namely:- “In the event of operational constraints, a no objection certificate shall be required from the respective additional or deputy collector of customs to allow one-time change of customs stations.”; and in clause 4, in sub-clause (2),- (i) under the heading “Import”, in condition and procedure (ii), after the word “abroad” the words “or apostilled under the Apostille Convention, 1961 where applicable” shall be inserted; and (ii) under the heading “Export Proceeds”, after paragraph (ii), the following new paragraph (iii) shall be added, namely:- “(iii) All the transactions under the Entrustment Scheme shall be processed exclusively through the same bank i.e., export of jewelry from the same bank that processed or handled the corresponding import of precious metals.”.
Commerce Ministry further stated that Notification No. S.R.O, No.760(I)/2025 dated the 6th May, 2025, has been rescinded with immediate effect and the period of suspension under its Notification No. S.R.O. No.760(I)/2013 dated the 2nd September, 2013 is accordingly condoned, thereby enabling exporters to avail the mandatory entitlement period of 120 days under the Entrustment Scheme.
Copyright Business Recorder, 2025