KARACHI/ISLAMABAD: After months of consultations between the Commerce Ministry and the Prime Minister’s Office, Pakistan is now on the brink of resuming the export and import of gold and jewellery — a move expected to revitalise the precious metals sector and strengthen foreign trade.
Meanwhile, gold prices in the local market have shown notable stability. On 21 October 2025, the price of 24-karat gold in Pakistan stood at Rs. 467,700 per tola, while the rate for 10 grams was Rs. 400,980. For 22-karat gold, the current rate is Rs. 428,688 per tola and Rs. 367,562 per 10 grams.
According to the Karachi Sarafa Bazar Association, Pakistan’s gold prices are determined in line with fluctuations in international market trends.
PM Office Gives Green Signal
Officials confirmed that the Prime Minister’s Office has authorised the Commerce Ministry to restart gold trade, ending a prolonged period of uncertainty for jewellers and exporters. A summary seeking final approval has now been submitted to the Economic Coordination Committee (ECC) of the Cabinet.
An official familiar with the matter stated, “The Prime Minister’s Office has granted approval, and the case now rests with the ECC for formal clearance.”
Commerce Ministry’s Proposals for Transparency
The Commerce Ministry has recommended condoning the three-month suspension period of SRO 760 to protect the business commitments made by gold traders during that phase. It has further proposed introducing a more robust verification mechanism to ensure transparency and prevent similar regulatory interruptions in the future.
According to ministry officials, these measures are aimed at rebuilding the confidence of exporters who suffered significant losses due to the suspension.
The Long Road to Reinstating SRO 760
The journey to reinstating SRO 760(1) 2023 has been an extended one. The regulation, which outlined the export framework for gems and jewellery, lapsed on July 8, 2025, following its suspension by the Federal Cabinet in May for review.
A special committee was subsequently formed to assess the SRO, identify shortcomings, and recommend improvements within 60 days. The committee conducted five meetings and submitted its findings to the Prime Minister’s Office on July 4, 2025.
Stakeholder Consultations and Industry Support
Following the review, the Prime Minister’s Office instructed the Commerce Ministry to engage with private-sector stakeholders. Consultations held on August 8 saw jewellery exporters unanimously endorsing the committee’s recommendations and calling for immediate reinstatement of the trade framework.
During the same session, Commerce Minister Jam Kamal Khan assured the All Pakistan Small Gems Jewellers & Tools Association (APSGJTA) that the SRO would soon be restored. He expressed confidence in the proposals presented by industry representatives and exporters.
Parliamentary Oversight and Final Steps
The matter was also raised in the National Assembly’s Standing Committee on Commerce, where Chairman Jawed Hanif Khan consistently urged the ministry to speed up the process.
With the Prime Minister’s Office now backing the resumption of gold trade, the ECC’s approval is anticipated to be the final procedural step before legal exports and imports officially recommence.
Relief Expected for the Jewellery Sector
Once cleared, the decision is expected to bring much-needed relief to Pakistan’s gems and jewellery industry, which has been waiting for a policy revival to reconnect with global trade networks and restore market confidence.
