Minister for Commerce, Jam Kamal Khan, assured the All Pakistan Small Gems Jewellers & Tools Association (APSGJTA) on Friday that SRO 760, which offers tax exemptions to the gold export sector, will be reinstated soon. The minister expressed satisfaction with the arguments put forward by industry representatives and gold exporters.
In a separate meeting with gold exporters via Zoom, concerns were raised regarding delays in import and re-export consignments. One such consignment, weighing 50 kg, is currently stuck at the port. Exporters noted that the expiration of SRO 760 on July 8, 2025, had caused a setback, and buyers were considering legal action against local partners for failing to meet their commitments.
Shabir Ahmad Awan, Convener of APSGJTA’s Export Standing Committee, emphasized the urgency of reinstating the SRO, citing its crucial role in facilitating smooth operations in the gold export sector. Both the Commerce Minister and Secretary assured exporters that the suspended SRO would be reinstated promptly. However, exporters remain cautious, fearing delays, as the matter had previously stalled at the Prime Minister’s Office (PMO).
Earlier, the additional secretary of Commerce had informed the National Assembly Standing Committee on Commerce that a special committee had approved the matter, but the PMO had returned the proposal for reconsideration. Jawed Hanif Khan, Chairman of the NA Standing Committee on Commerce, announced a follow-up meeting on August 18, 2025, to address the issue again.
SRO 760(I)/2013 provides tax exemptions under Clause 6 for gold jewellery exports, including import duties and taxes on precious metals, gemstones, and associated raw materials, tools, and machinery. However, discrepancies in sales tax exemptions have affected some imports, with sales tax applying to imports under the Self-Consignment Scheme and related items, while gold imports under the Entrustment Scheme remain exempt.
