It was discovered that the work had been illegally exported from Italy.
Under this new policy, if a government could prove an object had been illegally exported, the museum would return it.
Experts say there have been previous efforts to illegally export such instruments to Pakistan.
There have been earlier attempts to illegally export such instruments and material to Pakistan.
But, as a matter of principle, art works exported illegally should be returned.
He was charged with illegally exporting foreign currency, convicted and spent 18 months in prison.
At the same press conference, plans were announced to return the fossil to Chinese authorities, as it was illegally exported.
It is estimated a third of exports or 20 000 tonnes in 2008 were illegally exported from China.
According to Italian law, any antiquity that left the country since 1939 without authorization was exported illegally.
Convicted of illegally exporting foreign currency, 1,500 British pounds, he was sentenced to five years in jail.