Pakistan conditionally allows gold import for jewelry sector

ISLAMABAD: The government in a relief to the country’s jewelry sector has granted conditional permission for import of gold, ARY News reported on Saturday.

The Ministry of Commerce has notified the order under which gold jewelry will be exported within 120 days after import of gold.

The ban on the gold import has only been lifted for the finished product.

According to the notification the suspended SRO has been restored with regard to the international trade of the gold.

The government has also introduced some amendments with regard to the import and export of precious metals and jewelry, while the framework of the import and export of precious metals and jewelry will be continued, according to the notification.

“The framework will be continued with transparency and improvement in the automated mechanism,” according to the notification.