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Aftab Maken
ISLAMABAD: The federal government has restored and amended regulations governing the import and export of precious metals and jewelry, formally rescinding the earlier suspension imposed in May 2025. The Ministry of Commerce issued a new statutory regulatory order (S.R.O. 2198(I)/2025) , announcing changes to the Import and Export of Precious Metals, Jewelry and Gemstones Order, 2013.
According to the notification, the government has approved several amendments aimed at streamlining procedures, introducing digital documentation and tightening compliance requirements for the trade of gold, gemstones and jewelry. The changes were made under powers granted by the Imports and Exports (Control) Act, 1950.
One of the key amendments includes the addition of digital passbook options for traders, allowing either paper-based or digital formats to facilitate record-keeping. The rules also revise import and export mechanisms, ensuring that precious metals, gemstones and jewelry made from these materials can move under clearly defined schemes.
The government has also inserted a new provision requiring a no-objection certificate from relevant customs authorities if traders need a one-time change of customs stations due to operational constraints. The measure is expected to improve oversight and reduce misuse of customs facilities.
For exports, the amended order mandates that all transactions under the Entrustment Scheme must be processed through the same bank that handled the corresponding import of precious metals. Officials say this condition strengthens traceability and helps curb irregularities in cross-border value chains.
The notification further clarifies that documents attested abroad may now also be apostilled under the Apostille Convention 1961, where applicable, streamlining verification for international trading partners.
Crucially, the Ministry of Commerce has rescinded S.R.O. 760(I)/2025, which had suspended the 2013 framework earlier this year following concerns about gold smuggling. The suspension period under the 2013 order has now been formally condoned, restoring exporters’ entitlement to the 120-day mandatory period under the Entrustment Scheme.
Trade officials say the updated rules aim to modernize Pakistan’s gold and jewelry trade regime while tightening compliance and transparency. The sector had faced uncertainty since May, when the government halted imports and exports in response to smuggling-related complaints. With no fresh reports of smuggling in recent months, the government has now opted to reinstate the framework with reinforced safeguards.
The revised order takes effect immediately.
