ISLAMABAD
Federal government has lifted ban on import and export of gold. Ministry of commerce has issued order following the approval by the federal cabinet.
The suspended SRO related to international trade of gold has been restored.
Federal government has made some amendments regarding import and export of precious minerals and jewelry. Frame work of precious minerals and import and export of jewelry will remain unchanged. The framework will continue with transparency and automatic system.
Ban was imposed on import and export of the gold in May this year.
Commerce ministry had suspended SRO for organizing the gold trade on May 6, 2025 for 60 days.
The sources said ban on import and export of gold was imposed on the complaint of its smuggling. No complaint regarding smuggling of gold was received in the recent months. Due it the federal government had given approval to lift ban on import and export of the gold.
It is pertinent to mention here the statistics of Statistical department revealed that no gold at all was imported during the month of June and July. Only 9 kilogram gold costing 927000 dollars was imported in the month of May. This gold was part of shipments which were sent before the suspension of SROs. On the other hand the import of gold was recorded costing 22 lac dollars during the month of July 2024.
President FPCCI Atif Akram Sheikh had appealed to Prime Minsiter Shehbaz Sharif through letter that SRO 760 be restored immediately for the protection of jewelry export industry.
