Sign in Subscribe
Exports

Pakistan's Gold and Jewellery Export Sector in Crisis

Strategic Insights

— 2 min read

The sudden suspension of SRO 760 on May 6 has brought Pakistan's gold and jewellery export sector to a standstill, with imports of raw gold and export consignments halted. According to the Pakistan Bureau of Statistics (PBS), no gold was imported in June or July, and exports plummeted, with jewellery exports totalling just $17,000 in July 2025, $27,000 in June, and $617,000 in May - a sharp decline from $2.6 million in July 2024. Industry leaders warn of reputational damage, legal action from global buyers, and potential market losses.

Key Takeaways:

  • Pakistan's gold and jewellery export sector has been severely impacted by the suspension of SRO 760, with no gold imports in June or July.
  • The PBS data shows a significant decline in jewellery exports, with totals of $17,000 in July 2025, $27,000 in June, and $617,000 in May, compared to $2.6 million in July 2024.
  • Industry leaders, including Habib ur Rahman, warn of reputational damage, legal action from global buyers, and potential market losses.
  • A UAE-based company has demanded the return of its gold, warning that payment of $17,268 would only be released upon delivery of the jewellery.
  • The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh has called for the immediate restoration of SRO 760 to protect the jewellery export industry.
  • A high-level government committee has reviewed past transactions under SRO 760 and found no misuse or irregularities, and the Ministry of Commerce has forwarded a summary recommending revival of the SRO.
  • Patron-in-Chief of the United Business Group, S.M. Tanveer, has warned that delays in reviving the SRO could trigger legal claims from buyers and damage Pakistan's reputation in the global gold trade.

Statistics:

  • No gold imports in June or July, according to the Pakistan Bureau of Statistics (PBS).
  • Total gold imports in May were just 9 kilograms worth $927,000, primarily shipments made before the SRO's suspension.
  • Jewellery exports declined sharply, with totals of $17,000 in July 2025, $27,000 in June, and $617,000 in May, compared to $2.6 million in July 2024.
  • A UAE-based company provided 860 grams of pure gold in March for manufacturing purposes, but the order was not fulfilled within 120 days, leading to the company's demand for the return of its gold.
  • The payment of $17,268 was withheld by the UAE-based company until the delivery of the jewellery.

Sources:

  • Pakistan Bureau of Statistics (PBS)
  • Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
  • United Business Group
  • Pakistan's Prime Minister Office
  • UAE-based company (unnamed)
  • Pakistan's ambassador to UAE (unnamed)

Read more