ISLAMABAD: A crucial Statutory Regulatory Order (SRO) governing gold imports and exports remains suspended, stuck in bureaucratic delays at the Prime Minister’s Office (PMO), despite persistent reminders from the Ministry of Commerce and pressure from industry stakeholders.
The All Pakistan Small Gems Jewellers & Tools Association (APSGJTA) recently wrote to Prime Minister Shehbaz Sharif, citing the Ministry of Commerce’s May 6, 2025 order issued by Assistant Chief (Trade Policy) Humera, which suspended SRO 760(1)/2025 for 60 days to curb alleged gold smuggling. However, the APSGJTA insists no evidence of smuggling was ever found, questioning the justification for the suspension.
The suspension, which has now exceeded six months, has severely impacted gold exporters. The APSGJTA secretary-general, Qari Muhammad Ashraf, called the delay “economic murder of exporters,” highlighting the increasing legal threats from international buyers frustrated with delayed consignments.
Commerce Minister Jam Kamal Khan met with the association on August 6, 2025, assuring that a summary for reinstating the SRO would be forwarded to the PMO. Since then, three summaries have been sent—80, 60, and 15 days ago—but none have been approved.
The National Assembly Standing Committee on Commerce has also expressed serious concern over the stalled process, directing the Ministry to coordinate with the PMO to resolve the matter swiftly. Despite this, meaningful progress remains elusive.
On August 8, the Ministry of Commerce held a Zoom consultation with gold exporters who emphasized the urgent need to reinstate the SRO. Exporters revealed that import and re-export consignments, including a 50-kg gold shipment stuck at the port, remain delayed due to regulatory uncertainty.
The Standing Committee on Commerce has held five meetings on the issue, submitting a detailed report to the PMO on July 4, 2025. Following the PMO’s directive to hold further consultations, the Ministry met with exporters again on August 8, with all stakeholders endorsing the committee’s recommendations.
The Ministry’s final note to the Prime Minister recommends continuing the SRO, citing no discrepancies in data, yet the awaited approval and reinstatement remain pending, keeping the gold trade in limbo.
