KARACHI, AUG 27 /DNA/ – Atif Ikram Sheik, President FPCCI, has apprised that the apex body has formally written a letter to the Prime Minister, Mian Muhammad Shehbaz Sharif, to request an immediate restoration of SRO 760 to help fulfil the pending export orders and facilitate exports of the gold jewelry sector.
Mr. Atif Ikram Sheikh, on behalf of the business community, has drawn PM’s attention to a matter of urgent national importance as Pakistan’s gold jewelry export sector, which has contributed significantly to the country’s exports for many decades, has been at a complete standstill for over three months now due to the suspension of SRO 760.
President FPCCI continued that the abrupt suspension of this SRO on 6th May 2025 has disrupted ongoing export orders and jeopardized the trust of international buyers. Several exporters had already received raw gold from their foreign principals under legally verified contracts; and, have already crafted jewelry consignments for shipment before the SRO was suspended.
FPCCI Chief elaborated that, to FPCCI’s knowledge, the government-constituted, high-level committee has completed a comprehensive review of past transactions. The committee’s findings confirmed that there has been no malpractice or misuse of SRO 760; and, a clean report has been submitted.
Furthermore, a summary from the Ministry of Commerce recommending the revival of SRO 760 has been forwarded to your esteemed office – seeking your kind approval – is pending as of now.
Mr. S. M. Tanveer, Patron-in-Chief of UBG, highlighted that, due to this standstill in the gold jewelry exports, Pakistani exporters are facing serious consequences – including potential legal claims from their foreign buyers; loss of hard-earned export markets and reputational damage to Pakistan in the global gold trade realm. There is also a risk of escalation at international trade forums; which would not be in the interest of Pakistan’s exports and its economy.
Mr. S. M. Tanveer stressed that the prevailing situation calls for the PM’s immediate and personal intervention; and, immediate revival of SRO 760, for at least the ongoing and pending export consignments, is critical to restoring confidence and safeguarding Pakistan’s export market; and, additionally, an indispensable measure for supporting the government’s broader economic objectives and export-led growth vision.
