Prime Minister Muhammad Shehbaz Sharif has granted approval to a comprehensive National Policy Framework that will help tap into Pakistan’s gemstone sector and access an extra $450 billion in exports.
He said Pakistan holds gemstone reserves estimated at $450 billion, yet annual exports remain limited to $5.8 million. He set a target of increasing gemstone exports to $1 billion within the next five years.
Shehbaz ordered to set up Centres of Excellence this year to train experts for this sector. He also directed the creation of international-standard testing labs and a formal certification and warranty regime.
The aim is to shift exports from illegal smuggling channels to documented, legal trade, to generate massive foreign exchange inflows.
The prime minister further instructed to conduct geological surveys for mapping the location, quality, and value of Pakistan’s gemstone deposits, including emeralds, rubies, peridot, topaz, and aquamarine. The Ministry of Finance has been directed to immediately release the required funds.
