Govt moves to revive gemstone exports with trading mechanism

(Web Desk) - Pakistan is moving to restore the SRO 760(I)/2013 — Import and Export of Precious Metals, Jewellery, and Gemstones Order, 2013, a long-suspended regulatory framework once designed to bring transparency and structure to the country’s gemstone and jewellery trade.

According to official documents, the federal government has submitted a summary to the Economic Coordination Committee (ECC) of the Cabinet, recommending the reimplementation of SRO 760(I)/2013. The proposal seeks to revive formal trading mechanisms and strengthen oversight of gold, silver, platinum, and gemstone exports.

Originally issued in 2013, the SRO had introduced a transparent import-export certification and documentation system for precious metals and stones. Its suspension in subsequent years led to irregularities, under-invoicing, and a steep decline in formal exports, pushing much of the trade into informal channels.

The government now views the framework’s restoration as a crucial step toward standardisation, investor confidence, and export revival. Officials believe the move could help Pakistan reclaim a place in competitive global markets such as China, Thailand, and key European destinations.

Complementing the ECC proposal, the National Assembly Standing Committee on Commerce has called for establishing a dedicated regulatory authority under the Commerce Division to oversee gemstone mining, processing, certification, and exports. Lawmakers say the new body would promote responsible mining practices and ensure that Pakistani stones meet international quality and authenticity standards.

Pakistan hosts abundant reserves of emeralds, rubies, aquamarines, topaz, and other precious stones in regions including Gilgit-Baltistan, Khyber Pakhtunkhwa, and Balochistan. Yet, despite this natural endowment, annual gemstone exports remain limited to just $5–7 million, far below their potential.