Pakistan lifts ban on global trade of gold
Business
The Pakistani government has lifted the ban on gold imports and exports after the federal cabinet's approval. The suspension was revoked following a reduction in gold smuggling and its impact on trade
ISLAMABAD (Dunya News) – The federal government on Saturday lifted the ban on gold imports and exports, following the approval of the federal cabinet.
The Ministry of Commerce issued a directive reinstating the suspended Statutory Regulatory Order (SRO) related to the international trade of gold.
The government has also made amendments to the framework governing the import and export of precious commodity and jewellry.
The ban on gold trade was initially imposed in May 2025, following complaints of gold smuggling. The Ministry of Commerce had suspended the SRO for 60 days on May 6, 2025, to regulate the trade. However, after several months with no significant reports of smuggling, the federal cabinet has granted approval for revoking the ban on both gold imports and exports.
According to statistics from the Pakistan Bureau of Statistics, there was no gold import in June and July 2025, and only nine kilograms, worth $927,000, was imported in May. This shipment primarily consisted of goods sent before the suspension of the SRO. In contrast, gold imports in July 2024 had reached a record value of $2.2 million.
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) president, Atif Ikram Sheikh, had previously appealed to Prime Minister Shehbaz Sharif, requesting the immediate reinstatement of SRO 760 to protect the jewelry export industry.
Sheikh argued that many exporters had already received gold under legal contracts and had processed it into jewelry, but the sudden suspension of the SRO disrupted the supply chain and damaged global buyer confidence.
