The federal government lifted the ban on the import and export of gold by restoring the suspended rules governing precious metals trade and issuing fresh amendments, a Ministry of Commerce notification said on Thursday.
The commerce ministry issued notification on November 21 under the Imports and Exports (Control) Act, 1950, following approval from the cabinet. According to the notification, the government has reinstated the import and export of precious metals, jewellery, and gemstones under SRO 760(I)/2013 by rescinding the previous notification SRO 760(I)/2025 issued in May, which had suspended the 2013 order amid complaints of gold smuggling.
The period of suspension has been condoned, thereby enabling exporters to avail the mandatory 120-day entitlement period under the Entrustment Scheme.
