PM stresses using full potential of gemstone reserves

ISLAMABAD (APP) - Prime Minister Muhammad Shehbaz Sharif on Monday directed the authorities concerned to utilise the full potential of Pakistan’s gemstone reserves to earn valuable foreign exchange through enhanced exports and set a deadline of August 2027 for the completion of the Islamabad Gemstone Center.

Chairing a high-level meeting at the Prime Minister House here to review the promotion of the gemstone and minerals sector, the prime minister ordered the engagement of internationally renowned experts for the construction of proposed Gemstone Centers in Islamabad, Gilgit-Baltistan (GB), and Azad Jammu and Kashmir (AJK), a Prime Minister’s Office news release said.

Prime Minister Shehbaz Sharif emphasised that the implementation of the policy framework must be ensured with the assistance of global experts.

“Value addition in the gemstone industry is the key to increasing our national exports,” the PM remarked, further directing that these centers be equipped with state-of-the-art technology and modern machinery.

During the briefing, it was revealed that a site on Constitution Avenue in Islamabad has already been identified for the center. The facility will offer international-standard value addition services, certification, an incubation center, and a trade center. To facilitate exporters, offices of the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR) will also be established within the premises.

The meeting was informed that four consultative sessions have been held with stakeholders regarding the newly approved Gemstone Policy. Furthermore, work on a scientific roadmap for geo-fencing gemstone deposits has commenced.

The prime minister stressed the need for close collaboration between the federal government and the provincial governments, as well as the administrations of GB and AJK.