Pakistan vows to boost gemstone exports by $1 billion

ISLAMABAD: The federal government has decided to increase Pakistan’s gemstones exports by $1 billion over the next four to five years as part of a comprehensive policy aimed at developing the gems and jewellery sector, official documents show.

An initial draft of the government’s gemstones policy for the period 2027–2030 has been prepared and will be shared with stakeholders for consultation. Under the Gems and Jewellery Policy, exports are projected to rise by $1 billion within five years.

According to the policy draft, around 3,500 workers will be trained over the next five years to build skilled human resources for the sector. The government also plans to organise 320 international exhibitions and around 1,000 domestic exhibitions to promote Pakistani gemstones globally.

The policy proposes value addition worth Rs624 million through gemstone centres over the next five years. It also includes the provision of 48 modern machines to support gemstone exports and processing, while a budget of Rs9.78 billion will be allocated over the next four years to promote the gemstone industry.

Earlier this month, Prime Minister Shehbaz Sharif gave in-principle approval to the National Policy Framework aimed at reforming the gemstones sector, aligning it with international standards, and creating a conducive environment for foreign investment.

The prime minister, chairing a high-level meeting on the country’s gemstone reserves, sectoral reforms, export enhancement, and implementation of modern technology, directed strict adherence to the timeline for actions outlined in the policy framework this year.

Citing vast reserves of gemstones in Pakistan, he instructed geological surveys to determine the geography and value of these reserves, ensuring full consultation with all relevant institutions, provincial governments, and stakeholders.

The prime minister also instructed immediate measures to establish international-standard laboratories and certification systems.

Prime Minister Shehbaz directed the establishment of two model Centers of Excellence for gemstones in the country this year and engaged the internationally acclaimed experts to resolve obstacles in policy implementation.

He said that the country’s gemstone exports were negligible comparing immense reserves, and called for encouraging private companies, especially young entrepreneurs, to invest in the sector.