The federal government has formally lifted the ban on the import and export of gold, marking a significant policy shift intended to rejuvenate Pakistan’s precious metals and jewelry trade. The decision received approval from the federal cabinet, after which the Ministry of Commerce issued an official notification confirming the restoration of international gold trade permissions. This development is expected to enable traders, jewelers, and associated industries to resume operations that had remained constrained under earlier restrictions.
The notification stated that the Statutory Regulatory Order (SRO) governing gold trade, which had been previously suspended, has now been reinstated. With the reinstatement, businesses engaged in the gold economy can once again undertake import and export activities under the renewed regulatory architecture. Government officials noted that the decision is aimed at bringing clarity and stability to the sector, which plays a notable role in the country’s commerce landscape.
Alongside the lifting of the ban, several amendments have been introduced to strengthen and modernize the processes involved in the trade of precious metals and jewelry. While the notification did not elaborate on the exact nature of these updates, officials indicated that the revised framework is designed to streamline procedures, enhance compliance, and align Pakistan’s practices with global standards. Market observers believe such revisions may address long-standing challenges regarding documentation, valuation benchmarks, and transaction transparency.
The move is expected to influence multiple dimensions of the economy. Gold remains a major commodity within Pakistan’s trade structure, especially due to its cultural significance and widespread use in jewelry manufacturing. By reopening international trade channels, authorities aim to reduce informal trade routes, curb smuggling, and encourage legitimate business transactions that contribute to revenue generation. Industry stakeholders anticipate that the restored policy will reinvigorate supply chains, support jewelry exporters, and create a more predictable environment for traders.
This policy shift comes at a time when discussions surrounding Pakistan’s gold potential have resurfaced in public discourse. Earlier this month, an announcement regarding the discovery of gold reserves valued at approximately $636 billion in Tarbela generated considerable attention. Hanif Gohar, Chairman of Air Karachi and former senior vice president of the Federation of Pakistan Chambers of Commerce and Industry, revealed the finding during a briefing at the Karachi Press Club. According to Gohar, the magnitude of these reserves is substantial enough to theoretically address Pakistan’s foreign debt obligations.
He further stated that communication has already been established with Australian and Canadian drilling firms equipped with expertise in mineral exploration. Gohar emphasized that extraction efforts would commence promptly once directives are received from the prime minister. He added that the matter has been brought to the notice of the Special Investment Facilitation Council and the State Bank of Pakistan governor for oversight and facilitation.
The combination of trade policy reform and discovery of new reserves has generated cautious optimism among economic analysts. While the lifting of restrictions is expected to provide immediate relief and momentum to the gold market, the long-term impact will depend on regulatory efficiency, global market conditions, and the progress of exploration activities in Tarbela. For now, the gold sector enters a renewed phase of activity, with stakeholders closely watching how the new framework influences pricing, availability, and international competitiveness.
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