ISLAMABAD, Oct 25 (APP/DNA):The government is working to restore the SRO 760(I)/2013 – Import and Export of Precious Metals, Jewellery, and Gemstones Order, 2013.
The move aims at reviving Pakistan’s gemstone and Jewellery trade, enhance export potential, and curb illegal trading in the sector.
According to official documents available with Wealth Pakistan, the federal government had directed that a summary on the restoration of SRO 760(I)/2013 be placed before the Economic Coordination Committee (ECC) of the cabinet for consideration. The summary was later submitted to the ECC with recommendations to restore the SRO 760(I)/2013.
The 2013 regulatory framework — originally issued as SRO 760(I)/2013 — was introduced to create a transparent system for the import and export of gold, silver, platinum, and gemstones, ensuring proper certification, registration, and documentation of trade activities.
The framework was suspended in later years, which led to irregularities, under-invoicing, and a sharp decline in formal exports.
Its proposed restoration is now being seen as a crucial step toward bringing transparency, standardisation, and investor confidence to the gems and jewellery sector.
Moreover, the National Assembly Standing Committee on Commerce has proposed setting up a regulatory authority to oversee gemstone mining, processing, certification and export. The goal is to regulate the sector more effectively, promote responsible mining practices, and ensure that Pakistani gemstones meet international quality and authenticity standards.
Lawmakers have called for establishing such a body under the Commerce Division for better coordination and export facilitation.
Pakistan possesses vast deposits of emeralds, rubies, aquamarines, topaz, and other precious stones, mainly located in Gilgit-Baltistan, Khyber Pakhtunkhwa, and Balochistan. However, despite this natural wealth, gemstone exports currently total only $5 to $7 million annually, a small fraction of the country’s true potential.
Experts believe that reinstating the import-export regulations, along with creating a specialised regulatory gemstones authority, can significantly boost exports, generate employment, and attract foreign investment in gemstone cutting, polishing, and jewellery manufacturing.
Once approved by the ECC, the restoration of the SRO 760(I)/2013 will help formalise the gemstone and jewellery trade, reduce smuggling, and help Pakistan establish a stronger presence in international markets such as China, Thailand, as well as key European destinations.
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