Gold exports in crisis as traders urge revival of SRO 760

Pakistan’s gold and jewellery export sector is facing a severe crisis following the abrupt suspension of SRO 760 on May 6, which halted imports of raw gold and stalled export consignments. According to Pakistan Bureau of Statistics (PBS) data, no gold was imported in June or July. Only nine kilograms of gold worth $927,000 were imported in May — primarily shipments made before the SRO’s suspension. In contrast, gold imports in July 2024 had stood at $2.2 million. Jewellery exports have also plunged. PBS data shows exports totalled just $17,000 in July 2025, $27,000 in June, and $617,000 in May — down sharply from $2.6m in July 2024. Industry leaders say the situation has effectively paralysed the sector, with exporters unable to fulfill orders despite having received raw gold under legal contracts from international buyers. Habib ur Rahman, the former chairman of the Pakistan Gems and Jewellery Traders and Exporters Association, cited an example involving a UAE-based company that had provided 860 grams of pure gold in March for manufacturing purposes. The order was to be delivered within 120 days, but 164 days had passed by August 19 without fulfilment.