Pakistan Lifts Ban on Gold Imports and Exports After Cabinet Approval

The federal government on Saturday lifted the months-long ban on gold imports and exports, following formal approval from the federal cabinet.

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The Ministry of Commerce issued a directive reinstating the previously suspended Statutory Regulatory Order (SRO) that governs international gold trade. Alongside the reinstatement, the government has also amended the regulatory framework overseeing the import and export of gold and jewelry.

The ban was originally imposed in May 2025 after complaints of widespread gold smuggling. On May 6, the Commerce Ministry suspended the SRO for 60 days to tighten oversight. However, with no major smuggling incidents reported in the months that followed, the cabinet approved the complete revocation of the ban.

Data from the Pakistan Bureau of Statistics shows that no gold was imported in June or July 2025. In May, only nine kilograms — valued at $927,000 — were imported, largely comprising shipments cleared before the SRO suspension. In stark contrast, gold imports in July 2024 hit a record $2.2 million.

The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) had been urging the government to restore the SRO. FPCCI President Atif Ikram Sheikh appealed directly to Prime Minister Shehbaz Sharif, warning that the suspension hurt the jewelry export sector. He said exporters had legally received gold under existing contracts and converted it into jewelry, but the sudden policy halt disrupted supply chains and damaged trust among international buyers.

With the SRO now reinstated, industry stakeholders expect the resumption of gold trade to stabilize the jewelry market and restore confidence among exporters.