Pakistan opens its first-ever gem bazaar

Industry has huge potential to increase exports to $5b

KARACHI: Stakeholders of Pakistan’s gem and jewellery sector have set up the first-ever gem bazaar to showcase precious and semi-precious gemstones found in the country.

The event was organised by the All Pakistan Gem Merchants and Jewellery Association (APGM) and it featured stalls set up by exporters, retailers and merchants from northern parts of the country including Gilgit-Baltistan, Swat and Peshawar.

Around 35 exhibitors of precious and semi-precious gemstones, rough gemstones, pearls, gemstone beads, silver jewellery and designers of jewellery displayed their products in the bazaar.

Speaking on the occasion, APGM Chairman Matiullah Sheikh said, “Every month, the bazaar will be held twice in Karachi, and later on, it will be organised in other cities including Lahore and Peshawar.”

He urged the government to amend SRO 760, which, according to him, hindered exports of gems and jewellery from Pakistan.

Trade Development Authority of Pakistan former chief executive SM Muneer, who was present at the event, said he had resigned from the post due to the SRO 760, which was a major hurdle in the way of exports from Pakistan.

He urged the government to review the SRO so that export volumes could be increased.

Businessman Ikhtiar Baig emphasised that a huge export potential existed for Pakistan’s gems in the UAE, the US and Europe. He called for exporting the non-traditional products of Pakistan.

Tessori Group of Companies Group Chief Executive Akhter Khan Tessori claimed that Pakistan’s gem sector had the potential to increase its exports up to $5 billion, provided all facilities were extended to the stakeholders.

Published in The Express Tribune, December 24^th, 2017.

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