Lifting of ban on gold Import, export hailed

President of the Gold & Gems Art Promotion Council of Pakistan and Central Chairman of the Lahore Division Sarafa & Jewellers Association, Muhammad Ahmed, has welcomed the government’s decision to lift the ban on the import and export of gold. In a statement, he said the move would have far-reaching positive effects on the country’s gems and jewellery industry. He noted that rising gold prices can only be effectively addressed through increased exports, making this decision both timely and essential. He recalled that due to SRO 760(13)14, the national gems and jewellery sector had come to a standstill, leaving thousands of craftsmen unemployed, while internationally India gained an open and competitive advantage, which it fully capitalised on.