The federal government on Friday approved the restoration of international trade in gold and other precious metals, following a review of the import and export policy by the Economic Coordination Committee (ECC).
The decision restores the entrustment and consignment policies, allowing jewelry exports either through initial imports or local purchases, pending cabinet ratification.
The ECC meeting, chaired by Federal Minister for Finance and Revenue, Muhammad Aurangzeb, and attended by Federal Minister for Power, Sardar Awais Ahmad Khan Leghari, Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, as well as federal secretaries and senior officials from relevant ministries, divisions, and regulatory institutions.
The ECC reviewed a proposal from the Ministry of Commerce, which included the continuation of the existing regulatory framework with added measures for transparency and automation to enhance efficiency and traceability in the sector.
The Statutory Regulatory Order (SRO) that governed the trade of gems and jewelry had expired on July 8, 2025. In May, the federal cabinet suspended the SRO and formed a committee to review its terms.
The ECC was informed that there had been no misuse of the previous schemes, and restoring these facilities would facilitate international trade in gold.
The commerce ministry had also submitted a note to the prime minister recommending the reinstatement of SRO 760, with no discrepancies reported under the previous trade regime.
