PM Approves National Gemstones Policy Framework
Prime Minister Shehbaz Sharif has given in-principle approval to a national policy framework aimed at reforming Pakistan’s gemstones sector and aligning it with international standards.
The approval was granted during a high-level meeting held in Islamabad, where the prime minister directed authorities to ensure timely implementation of measures outlined in the policy framework within the current year.
Chairing the meeting, the prime minister said Pakistan possesses vast reserves of gemstones and precious stones and called for priority-based geological surveys to determine the location and value of these resources. He stressed the need for close consultation with relevant federal institutions, provincial governments, and industry stakeholders.
Shehbaz Sharif instructed officials to take immediate steps to establish internationally recognized laboratories and certification systems, while ensuring that the policy framework prioritizes creating a favorable environment for foreign investment. He also directed that two model Centers of Excellence for gemstones be established in the country during the current year.
The prime minister noted that despite significant reserves, Pakistan’s gemstone exports remain negligible. He emphasized encouraging private companies, particularly young entrepreneurs, to enter the sector. He added that Pakistani gemstones are globally recognized for their quality and that curbing smuggling while promoting legal exports could generate billions of dollars in foreign exchange.
He further directed that internationally renowned experts be engaged to remove implementation bottlenecks in the policy framework and instructed the Ministry of Finance to ensure the immediate availability of financial resources for sector development.
The meeting was attended by Federal Ministers Azam Nazeer Tarar and Ali Pervaiz Malik, Minister of State Bilal Azhar Kayani, Special Assistant Haroon Akhtar, and senior officials.
Officials briefed the meeting that Pakistan’s gemstone reserves are conservatively estimated at $450 billion. More than 5,000 companies are currently involved in processing over 30 types of precious stones, including emerald, peridot, ruby, topaz, and aquamarine.
Despite these reserves, Pakistan’s annual gemstone exports stand at just $5.8 million. The Ministry of Industries and Commerce said the new policy framework includes prioritized reforms aimed at raising gemstone exports to $1 billion within five years.
The framework also covers geological mapping, modern mining technology, value addition through local processing, international certification regimes, establishment of a regulatory authority and a National Warranty Office, private-sector training programs, branding initiatives under “Brand Pakistan,” and the creation of Centers of Excellence, along with defined implementation timelines.
