WNAM REPORT: Pakistan’s gold jewellery exports have remained suspended for more than four months due to the continued suspension of SRO 760, dealing a serious blow to the industry and shaking international confidence in the country’s export reliability.
The suspension, originally issued on May 6, 2025, for a 60-day period, has yet to be lifted, leaving exporters in limbo and millions of dollars in advance orders at risk.
Habib ur Rehman, former Chairman of the Pakistan Gems Jewellery Traders and Exporters Association (PGJTEA), said the government’s inaction is causing long-term damage.
“This situation has severely damaged Pakistan’s credibility in international markets,” Rehman said in a press note issued Tuesday. “Over 52 kilograms of advance gold, provided by foreign buyers under the Entrustment Scheme, remains stuck in Pakistan. These goods were meant to be turned into jewellery and re-exported, but the process has come to a complete halt.”
He warned that continued delays are pushing global clients to shift orders to competing markets in the region, including India, Thailand, and the UAE.
“We are not only losing business but the trust of international buyers is eroding with each passing day,” Rehman added.
The Entrustment Scheme allows international buyers to send raw gold to Pakistan for manufacturing and re-export. However, with SRO 760 suspended, customs clearance and regulatory approvals have effectively frozen the process.
Adding to the uncertainty, the suspension comes at a time when the Pakistani government appears to be shifting focus toward mineral resource development. On September 9, it was reported that the Frontier Works Organization signed a $500 million agreement with Missouri-based U.S. Strategic Metals to establish a poly-metallic refinery in Pakistan.
Rehman questioned whether this move signals a shift in policy.
“This development raises serious questions. Is the government now repositioning gold as a strategic resource? Are they prioritizing mining and refining over supporting the jewellery export sector?” he asked.
Exporters and industry representatives have called on the Ministry of Commerce and Federal Board of Revenue to immediately clarify the status of SRO 760 and restore export operations.
“The silence from policymakers is not just costing us business—it’s costing Pakistan its global standing in the jewellery trade,” Rehman said.
Despite repeated appeals from exporters, no official timeline has been given for the reinstatement of the order or any alternative framework for processing export-bound gold.
