PM orders tapping gemstone reserves

Shehbaz urges full policy implementation with help of global experts

ISLAMABAD:

Prime Minister Shehbaz Sharif on Monday called for fast-tracking the development of Pakistan's gemstone sector to boost exports and foreign exchange earnings, directing authorities to fully tap the country's reserves and complete the Islamabad Gemstone Center by August 2027.

Chairing a high-level meeting at the Prime Minister House to review the promotion of the gemstone and minerals sector, the premier ordered the engagement of internationally renowned experts.

The experts will be hired for the construction of proposed Gemstone Centers in Islamabad, Gilgit-Baltistan (G-B) and Azad Jammu and Kashmir (AJK), a Prime Minister's Office statement said.

The premier emphasized 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 prime minister 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.