The federal government has lifted the ban on gold imports and exports, reinstating the rules governing the trade of precious metals, jewellery, and gemstones, according to a notification issued by the Ministry of Commerce on Thursday. The move follows cabinet approval and restores the provisions under SRO 760(I)/2013, which had been suspended earlier this year by SRO 760(I)/2025 due to concerns over gold smuggling.
The Commerce Ministry notification, issued under the Imports and Exports (Control) Act, 1950, specifies that the suspension period has been condoned, allowing exporters to make use of the mandatory 120-day entitlement period under the Entrustment Scheme.
Sources indicated that the ban, originally imposed in May amid smuggling reports, was relaxed as no new complaints had been received in recent months, paving the way for resumption of trade.
Several technical amendments have also been introduced to streamline the trade process. The short title of the order now omits the word “Gemstones,” and the definition of “passbook” in clause 2(j) has been updated to allow either paper or digital formats.
Clause 3(2) has been revised to clarify that imports of precious metals and gemstones, and exports of jewellery composed of these materials or a combination thereof, will be permitted under specified schemes.
Clause 3(9) introduces a mechanism for operational flexibility, allowing a one-time change of customs station with a no-objection certificate from the relevant customs official.
On the import side, clause 4(2) now permits documents issued abroad to be apostilled under the Apostille Convention, 1961, where applicable.
For exports, all transactions under the Entrustment Scheme must be processed through the same bank that handled the corresponding imports, ensuring proper routing and accountability. The restoration of these rules is expected to reinvigorate Pakistan’s precious metals trade and support exporters, providing regulatory clarity and operational continuity after several months of suspension.
