Monday September 27, 2021

Jewellers ask to get rid of SRO 760

SRO 760 is responsible for stopping the exports of gold and gem-studded ornaments

LAHORE: Jewellers on Friday demanded the government to immediately withdraw SRO 760, responsible for stopping the exports of gold and gem-studded ornaments, as it hindered the development of the gems and jewellery sector in the country.

The demand was raised by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Standing Committee on Jewellery Manufacturers and Retailers, Punjab Sarafa Gems and Jewellers Association and Lahore Division Sarafa and Jewellers Association. The organisations approved a unanimous resolution in a joint meeting in this regard.

The meeting was chaired by the convener of FPCCI committee and Chairman Lahore Division Sarafa and Jewellers Association Muhammad Ahmad.

Ahmad said jeweller community had always played its role in development and progress of the country and they were ready to pay their share of taxes, but rejected any policy given by the International Monetary Fund (IMF).

“It is astonishing that on one hand, the government is trying to develop gems and jewellery sector and on the other hand stopping exports of gold and gems studded ornaments through SRO 760,” he said, adding that if government was really interested in pushing the sector upwards, it should immediately withdraw the controversial SRO.

He, however, welcomed the setting up of PM Task Force on gems and jewellery.

This sector falls under cottage industry and rules were being framed to develop it. The Gold and Gems Art Promotion Council of Pakistan in collaboration with the European Union had carried out a study for pin pointing the issues faced by the sector and their probable solutions.