Pakistan lifts ban on import and export of gold after Cabinet approval

• May 2025, the suspension of the 2013 precious metals order was lifted.
• Restored the 120-day export rights period of the assignment program.
• Digital passbooks are expressly permitted to precious metals dealers.

The federal government has lifted a ban on gold imports and exports by restoring suspended rules governing trade in precious metals and issuing new amendments, the Commerce Department said in a statement on Thursday.

The commerce ministry issued a notification on November 21 under the Imports and Exports (Control) Act, 1950, after approval by the cabinet.

According to the notification, the government has restored import and export of precious metals, jewelery and precious stones under SRO 760(I)/2013, revoking the earlier notification SRO 760(I)/2025 issued in May, which had suspended the 2013 order due to gold complaints.

The grace period has been granted, thereby enabling exporters to benefit from the mandatory 120-day grace period under the award system.

Sources said a ban on gold imports and exports, imposed in May this year following reports of smuggling, had been eased after no new complaints had been received in recent months.

Several technical changes have been introduced in the 2013 order. In the short title, the word “Gemstones” has been removed, while the definition of “passbook” in paragraph 2(j) has been updated to expressly allow either paper or digital passbooks.

In clause 3(2), the rider clause has been replaced to clarify that “the import of precious metals and precious stones and the export of jewelery made of precious metals, precious stones or a combination thereof” are permitted under specified schemes.

Clause 3(9) has been amended to provide that, in case of operational constraints, a no-objection certificate is required from the concerned Additional or Deputy Collector of Customs to allow a one-time change of customs station.

Under clause 4(2), on the import side, documents issued abroad can now also be sent under the 1961 Apostille Convention, where applicable. Regarding export proceeds, a new paragraph stipulates that all transactions under the entrustment system must be processed exclusively through the same bank that handled the corresponding import of precious metals, ensuring that exports are channeled through that bank.