Pakistan Approves National Policy Framework to Reform and Globalize Gemstones Sector

Islamabad:Pakistan Report By M.Saleem  Prime Minister Muhammad Shehbaz Sharif has given in-principle approval to a national policy framework aimed at reforming Pakistan’s gemstones and precious stones sector and aligning it with international standards.
Chairing a high-level meeting in Islamabad on Thursday, the prime minister directed authorities to ensure implementation of all measures outlined in the policy framework within the current year. He emphasized that Pakistan possesses vast reserves of precious stones and called for priority-based geological surveys to accurately determine their location, volume, and economic value.
The prime minister instructed that all relevant federal institutions, provincial governments, and stakeholders be taken on board during implementation. He also directed immediate steps for the establishment of internationally accredited laboratories and certification systems to enhance credibility and competitiveness in global markets.
Highlighting the need to attract foreign investment, Prime Minister Shehbaz Sharif said the policy must create a business-friendly environment, while at least two model Centers of Excellence for Gemstones should be established in the country during the current year.
Despite Pakistan’s significant gemstone reserves, exports remain negligible, the prime minister noted, stressing the need to encourage private companies—particularly young entrepreneurs—to enter the sector. He said Pakistani gemstones are internationally recognized for their quality, and curbing smuggling while promoting legal exports could generate billions of dollars in foreign exchange.

The prime minister further directed that internationally renowned experts be engaged to remove bottlenecks hindering effective implementation of the policy framework.
The meeting, attended by Federal Ministers Azam Nazeer Tarar and Ali Pervaiz Malik, Minister of State Bilal Azhar Kayani, Special Assistant Haroon Akhtar, and senior officials, was briefed on Pakistan’s gemstone potential, regional comparisons, export challenges, and the implementation timeline of the national policy framework.
Officials informed the meeting that Pakistan’s gemstone reserves are conservatively estimated at $450 billion. More than 5,000 companies and businesses are currently associated with the sector, processing over 30 types of precious stones, including emerald, peridot, ruby, topaz, and aquamarine.
However, despite these reserves, Pakistan’s annual gemstone exports stand at just $5.8 million. The Ministry of Industries and Commerce has prepared a comprehensive reform roadmap which aims to raise gemstone exports to $1 billion within five years through structural reforms.
Under the policy framework, the government plans to integrate the gemstone value chain into the national economy, promote in-country processing to add value, introduce modern mining and processing technologies, launch private-sector training programs, and introduce “Brand Pakistan” in global gemstone markets.
Key measures include the establishment of an international certification regime, a dedicated development and investment authority, a National Warranty Office, geological mapping, modern mining practices, and the creation of Centers of Excellence. The meeting was also briefed on the phased implementation schedule of these initiatives.

The prime minister directed the Ministry of Finance to ensure the immediate availability of financial resources required for the development of the sector.