FPCCI Has Written to PM for Immediate Restoration of SRO 760 Atif Ikram Sheikh, President FPCCI

Karachi: Mr. Atif Ikram Sheik, President FPCCI, has apprised that the apex body has formally
written a letter to the Prime Minister, Mian Muhammad Shehbaz Sharif, to request an immediate
restoration of SRO 760 to help fulfil the pending export orders and facilitate exports of the gold
jewelry sector.

Mr. Atif Ikram Sheikh, on behalf of the business community, has drawn PM’s attention to a
matter of urgent national importance as Pakistan's gold jewelry export sector, which has
contributed significantly to the country's exports for many decades, has been at a complete
standstill for over three months now due to the suspension of SRO 760.

President FPCCI continued that the abrupt suspension of this SRO on 6th May 2025 has
disrupted ongoing export orders and jeopardized the trust of international buyers. Several
exporters had already received raw gold from their foreign principals under legally verified
contracts; and, have already crafted jewelry consignments for shipment before the SRO was
suspended

FPCCI Chief elaborated that, to FPCCI’s knowledge, the government-constituted, high-level
committee has completed a comprehensive review of past transactions. The committee's findings
confirmed that there has been no malpractice or misuse of SRO 760; and, a clean report has been
submitted.

Furthermore, a summary from the Ministry of Commerce recommending the revival of SRO 760
has been forwarded to your esteemed office – seeking your kind approval – is pending as of now.

Mr. S. M. Tanveer, Patron-in-Chief of UBG, highlighted that, due to this standstill in the gold
jewelry exports, Pakistani exporters are facing serious consequences – including potential legal
claims from their foreign buyers; loss of hard-earned export markets and reputational damage to
Pakistan in the global gold trade realm. There is also a risk of escalation at international trade
forums; which would not be in the interest of Pakistan's exports and its economy.

Mr. S. M. Tanveer stressed that the prevailing situation calls for the PM’s immediate and
personal intervention; and, immediate revival of SRO 760, for at least the ongoing and pending
export consignments, is critical to restoring confidence and safeguarding Pakistan's export
market; and, additionally, an indispensable measure for supporting the government's broader
economic objectives and export-led growth vision.