Prime Minister Shehbaz Sharif has approved a National Policy Framework to revolutionize Pakistan’s gemstone sector. The policy aims to align the industry with global market standards. It targets unlocking the country’s estimated $450 billion in untapped gemstone reserves.
The prime minister expressed concern that Pakistan’s annual gemstone exports are only $5.8 million. He set an ambitious target of $1 billion in exports over the next five years. Sharif directed immediate reforms to shift production from illegal smuggling to formal export channels.
Read more: Shehbaz renews digital Ramadan package
Two “Centers of Excellence” will be established this year to foster innovation and expertise. International-standard testing laboratories and a formal certification regime will be set up to enhance the credibility of “Brand Pakistan.” Young entrepreneurs and foreign investors are encouraged to lead industry modernization.
The PM ordered a detailed geological survey to map Pakistan’s gemstone deposits, including emeralds, rubies, peridot, topaz, and aquamarine. The Ministry of Finance was instructed to release funds for smooth execution. Officials will oversee value-chain integration and a National Warranty Office to streamline exports.
Read more: PM Shehbaz orders expedited reforms to boost exports
Analysts say the new framework could transform Pakistan into a global gemstone hub. The policy aims to secure billions in foreign exchange while creating jobs and boosting economic growth. The government plans effective coordination among ministries to ensure rapid implementation.