ISLAMABAD (Mudassar Ali Rana) – The government has prepared a preliminary draft of a national policy for gemstones and jewellery covering the period from 2027 to 2030 with the aim of increasing exports by $1 billion over the next five years.
According to sources, Prime Minister Shehbaz Sharif has been briefed on the initial draft and has directed that consultations be held with all stakeholders before the policy is presented to the federal cabinet for approval.
As per policy draft obtained by Dunya News, the “Gems and Jewellery Policy” envisages a comprehensive strategy to enhance value addition, modernise mining techniques, and promote international market access. Under the policy, 3,500 workers will be provided specialised training over the next five years.
The document states that 320 international exhibitions will be organised during this period along with 1,000 local exhibitions to promote Pakistan’s gemstone industry. The policy also proposes provision of 48 specialised machines to support gemstone exports. A sum of Rs9.78 billion will be allocated over the next four years to promote the gemstone industry.
The policy draft highlights several challenges facing the sector noting that actual gemstone exports remain largely undocumented. Due to outdated mining techniques and obsolete technology, nearly half of gemstone production is wasted. Non-scientific blasting and drilling techniques result in the loss of 30 percent to 40 percent of precious stones. Most gemstones are exported in raw form without value addition while the lack of international cooperation and foreign investment continues to hinder sectoral growth.
The policy emphasises that the adoption of modern mining technology could significantly enhance gemstone production and exports.
According to the officials, Pakistan’s potential for gemstone exports stands at $2 billion but this potential remains undocumented. At present, only $7 million worth of gemstone exports are officially recorded.