Gems, Jewellery Trade Stalled as SRO Approval Awaits PM’s Nod

The Commerce Ministry’s efforts to revive exports and imports of gems and jewellery have hit a roadblock, with the approval of the requisite Statutory Regulatory Order (SRO) 760 still pending at the Prime Minister’s Office.

The SRO, which expired on July 8, 2025, had allowed regulated import and re-export of gold, gems, and jewellery. Its suspension has left consignments stranded at ports and exporters unable to honor international commitments, reported Business Recorder.

According to industry representatives, at least one 50-kg gold consignment remains stuck due to the delay.

On August 8, 2025, Commerce Minister Jam Kamal Khan met with members of the All Pakistan Small Gems Jewellers & Tools Association (APSGJTA) and assured them that the SRO would be reinstated “soon.” The minister expressed satisfaction with the exporters’ arguments, but the industry remains in limbo nearly three weeks later.

The Ministry also held a virtual meeting with jewellery exporters, who urged Khan to expedite the process. Exporters warned that delays are eroding international confidence, with some foreign buyers considering legal action against Pakistani suppliers for failing to fulfill contracts.

The Federal Cabinet had suspended SRO 760(1)/2023 on May 2, 2025, appointing a committee to review loopholes and propose improvements within 60 days. The committee held five meetings, reviewed the regulations in detail, and finalized its report on July 4, 2025.

On July 28, 2025, the Prime Minister’s Office directed the Commerce Ministry to consult private stakeholders before making a final decision. The ministry subsequently engaged jewellery exporters on August 8, 2025, where all participants unanimously endorsed the committee’s recommendations.

Following consultations, the Commerce Ministry submitted a note to the Prime Minister recommending continuation of the SRO, stressing that no discrepancies had been reported under the earlier framework. However, the Prime Minister’s approval is still awaited, leaving exporters uncertain about the fate of their consignments.