Karachi: Mr. Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has announced that the organization has formally appealed to Prime Minister Mian Muhammad Shehbaz Sharif for the immediate reinstatement of SRO 760. This move aims to expedite pending export orders and support the gold jewelry export sector, which has been stalled for over three months.

The gold jewelry sector, a significant contributor to Pakistan's exports, has faced a complete standstill following the suspension of SRO 760 on May 6, 2025. Mr. Sheikh emphasized that this suspension has disrupted ongoing export orders and undermined the confidence of international buyers. He noted that several exporters had already procured raw gold under verified contracts and crafted jewelry consignments ready for shipment before the suspension.

A high-level committee constituted by the government reviewed past transactions related to SRO 760 and submitted a clean report indicating no misuse. Despite this, the reinstatement of the SRO remains pending, with a recommendation from the Ministry of Commerce awaiting approval by the Prime Minister's office.

Mr. S. M. Tanveer, Patron-in-Chief of the United Business Group (UBG), pointed out the severe repercussions faced by Pakistani exporters due to the ongoing suspension. These include potential legal claims from foreign buyers, loss of established export markets, and damage to Pakistan's reputation in the global gold trade.

In light of these challenges, Mr. Tanveer urged the Prime Minister to personally intervene and restore SRO 760, at least for ongoing and pending consignments. He stressed that reinstating the SRO is vital to restoring market confidence, securing export markets, and aligning with the government's broader economic goals and vision for export-led growth.