Govt issues new rules for precious metals import and export

By Our Correspondent

ISLAMABAD

he Ministry of Commerce has issued a fresh order introducing key amendments to the Import and Export of Precious Metals Jewelry and Gemstones Order, 2013, while simultaneously rescinding its earlier notification S.R.O. 760(I)/2025.

According to the new order dated 21 November 2025, several revisions have been approved to streamline import and export procedures for precious metals, gemstones and jewelry made from these materials.

Under the amendments, the terminology of the 2013 Order has been updated, with the word “Metals” being expanded and the phrase “and Gemstones” removed from the short title. Clause 2 has also been refined by inserting the words “either paper or digital” after the mention of “passbook.”

A major change has been introduced in clause 3, where the rider clause now states that the import of precious metals and gemstones — along with export of jewelry made from these materials — will be permitted under specified schemes. In addition, the order allows a one-time change of customs stations, subject to a no-objection certificate issued by the relevant collectorate in cases of operational constraints.

Further adjustments have been made to clause 4. Under import procedures, documents issued abroad will now require certification or apostille where applicable. Under export regulations, a new provision has been added making it mandatory that all transactions under the Entrustment Scheme be processed through the same bank that handled the corresponding import of precious metals.

In a significant policy reversal, the Commerce Ministry has rescinded S.R.O. 760(I)/2025, issued on 6 May 2025, with immediate effect. The suspension period earlier associated with that notification also stands withdrawn. The ministry has additionally condoned the 2013 notification S.R.O. 760(I)/2013, enabling exporters to avail the mandatory 120-day entitlement period under the Entrustment Scheme.

The new amendments take effect immediately and are expected to provide clarity and facilitation for exporters and importers working in the precious metals and jewelry sector.