ISLAMABAD: An inter-ministerial meeting has agreed to revise valuation rules for gold jewellery exports, proposing a shift from percentage-based value addition to fixed per-gram rates following concerns raised by the industry.
The meeting, chaired by the Special Secretary Commerce and attended by officials from the State Bank of Pakistan, Federal Board of Revenue and other ministries, reviewed long-standing issues affecting exporters.
Participants agreed in principle to fix value addition at $2 per gram for plain gold jewellery, $3 per gram for gold chains and $5 per gram for studded jewellery.
The proposed revision comes after exporters highlighted that the existing framework, governed by SRO 760, links value addition to international gold prices at rates of 4%, 6% and 13%.
Industry representatives said the system has become impractical as gold prices have risen from around $44 per gram in 2013 to about $165 per gram, increasing compliance requirements.
Exporters noted that international buyers are offering around $5 per gram, while current rules require significantly higher remittance values based on percentage calculations.
They said this gap has made it difficult to remain competitive in global markets and has constrained export growth.
Pakistan’s jewellery exports currently stand at around $30–40 million, compared to much higher export volumes in competing markets.
The issue had been under discussion at the National Assembly Standing Committee on Commerce, which directed authorities to consult stakeholders and propose a resolution.
Following consultations, officials said there was consensus among participants that the existing valuation method needed revision to align with market practices.
The proposal is expected to be presented to the committee as part of efforts to address concerns in the jewellery export sector.
