Pakistan, May 7 -- In a significant move, the government of Pakistan has temporarily suspended SRO 760(I)/2013, the regulatory framework governing the import and export of precious metals, jewelry, and gemstones. The suspension is effective immediately and will remain in place for 60 days.

According to an official notification issued on Wednesday, the "Import and Export of Precious Metals, Jewelry and Gemstones Order, 2013" will not be enforced during this period. This order previously outlined detailed procedures for businesses dealing in gold, silver, platinum, gemstones, and associated jewelry.

Under the original rules, exporters were required to register with the Trade Development Authority of Pakistan (TDAP) and operate under speci...