Karachi, April 7, 2026 — Jewelers across Pakistan have raised strong objections to the recent regulations and enforcement measures introduced by the Federal Board of Revenue (FBR). According to industry leaders, these policies are placing significant pressure on the gold and jewelry sector, slowing down business activity and creating uncertainty for traders, particularly small retailers.
In an official statement released on Tuesday, Qasim Shikarpuri, President of the All Pakistan Sarafa Gems and Jewelers Association, criticized what he described as unilateral and impractical policies implemented on the gold trade. He noted that such measures have made it increasingly difficult for jewelers to operate smoothly, affecting both daily transactions and long-term planning.
Shikarpuri explained that small traders are facing unwarranted notices, heavy penalties, and rising incidents of illegal inspections, which have contributed to an atmosphere of fear within the marketplace. He added that reports of harassment by field officers are becoming more common, further undermining confidence in the regulatory system. Additionally, he stressed that excessive restrictions on cash transactions—a common mode of payment in the jewelry sector—are proving harmful to legitimate business operations.
Commenting on the enforcement of Section 175 of the Income Tax Ordinance, 2001, Shikarpuri said, “We are not against paying taxes, but the current implementation mechanism is unfair and unacceptable.” He urged the FBR to make regulations simpler, more transparent, and aligned with ground realities.
The jewelers’ community has appealed to the FBR to adopt business-friendly policies to support the sector and prevent further economic losses. Shikarpuri warned that if authorities fail to address these concerns, the community will reserve the right to launch peaceful protests in the coming days.
This growing dispute highlights the need for dialogue between policymakers and stakeholders to ensure a balanced regulatory framework for Pakistan’s gold and jewelry industry.