KARACHI: The Pakistan Gems, Jewellery Traders & Exporters Association (PGJTEA) has issued an urgent appeal to Prime Minister Muhammad Shehbaz Sharif, calling for the immediate reinstatement of SRO 760(1)/2013. The association expressed deep concern over the Ministry of Commerce’s unexpected suspension of the key regulatory order on May 6, warning that the move has triggered widespread disruption across Pakistan’s formal jewellery export sector.
In an official letter sent to the Prime Minister’s Office, PGJTEA highlighted that the suspension was carried out without any prior consultation or notice. The regulation in question, SRO 760(1)/2013, had served as the foundation for the structured, legal, and transparent import of gold for the manufacture of exportable jewellery. The association stated that this sudden change has effectively paralyzed business operations, placing compliant exporters in jeopardy while leaving illegal players untouched.
PGJTEA clarified that its members have always adhered strictly to the regulatory framework, importing gold only through legal channels, avoiding any engagement with the grey market or unregulated foreign exchange, and ensuring that imported gold is never diverted to the local market. All gold imports under this SRO, the letter emphasized, were exclusively intended for export manufacturing.
The consequences of the decision have been swift and severe. Export contracts registered with government authorities are now at risk of cancellation, while prepared consignments and imported gold are stuck at customs. Exporters face potential legal action and financial penalties abroad due to delays and breaches of contract. The association stressed that the suspension harms those who have followed the rules while doing nothing to deter illegal or undocumented operators, who continue to function outside the scope of this regulation.
The timing of this regulatory reversal is particularly damaging. PGJTEA noted that Pakistan is in urgent need of foreign exchange inflows, and the jewellery export sector is one of the few consistent contributors. The uncertainty created by such abrupt policy changes sends a negative signal to international buyers and undermines Pakistan’s credibility as a reliable trade partner.
In its appeal, PGJTEA requested the Prime Minister to take immediate action by reinstating SRO 760(1)/2013, clearing all pending transactions to avoid economic loss, and including PGJTEA representation in any investigative or reform committees to ensure fairness and transparency. The association also called for the empowered committee to recommend amendments that address misuse, without disrupting compliant exporters.
Chairman of the association, Imran Khan Tessori, who also sent the letter, to the Federal Minister of Commerce, the Commerce Secretary, and the Secretary of the Trade Development Authority in Karachi, reaffirmed PGJTEA’s support for regulatory improvements and accountability but cautioned that reform efforts must not dismantle the mechanisms that enable legal and beneficial export activity.
