Govt Set to Resume Gold and Jewellery Trade After Months-Long Suspension

After months of back-and-forth between the Commerce Ministry and the Prime Minister’s Office, the government is poised to resume the export and import of jewellery, ending a three-month suspension that left traders in limbo. According to a report by Business Recorder, the Prime Minister’s Office has authorized the Commerce Ministry to restart gold trade, with a summary now sent to the Economic Coordination Committee (ECC) of the Cabinet for final approval. The ministry has also proposed that the three-month suspension period of SRO 760 be officially condoned to protect the commercial commitments made by gold traders during that time. To prevent future regulatory uncertainty, the ministry has recommended linking gold trade to a robust verification mechanism. The move follows a series of consultations and reviews. 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, expressing satisfaction with the industry’s proposals. SRO 760(1) 2023, which governed the regulatory framework for the gems and jewellery sector, expired on July 8, 2025. The Federal Cabinet had earlier suspended the SRO on May 2, 2025, forming a committee to review and recommend improvements. After five meetings, the committee submitted its report to the Prime Minister’s Office in early July. Subsequently, the Prime Minister’s Office directed the Commerce Ministry to consult private-sector stakeholders, leading to unanimous support from jewellery exporters for the committee’s recommendations. The Commerce Ministry then formally recommended reinstating SRO 760, noting that no discrepancies had been reported in trade data under the previous regime. The issue was also raised in the National Assembly Standing Committee on Commerce, where Chairman Jawed Hanif Khan pressed for a swift resolution. With the Prime Minister’s Office now on board, final approval from the ECC is expected to clear the way for the resumption of legal gold and jewellery trade in Pakistan.