Islamabad can be regional leader in the sector by adopting modern techniques. PHOTO: FILE
Pak-China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi, while speaking to a seven-member delegation of China, shared the possibilities of investing in the gems and jewellery sector of the country.
“The country can become a regional leader by just adopting modern techniques and methodologies of value addition,” he suggested.
On the occasion, the PCJCCI arranged a gemstone exhibition in collaboration with SS Traders, a leading gemstone exporting company of Pakistan. The delegates were inspired by the varieties and originality of gemstones on display.
Afridi underlined the need of collaboration with Chinese counterparts to learn latest gemstone cutting and polishing techniques and proposed to take the National Productivity Organisation (NPO) on board.
The NPO, through the Asian Productivity Organisation, should invite Chinese professionals to train Pakistani labour force in manufacturing and designing state-of-the-art jewellery, he said.
At present, four million people of Pakistan are associated directly or indirectly with the gems and jewellery industry.
“Gemstones contribute 0.02% to the gross domestic product globally and the volume of gemstone trade is up to $40 billion, whereas, Pakistan has a share of 0.31% only.”
Afridi asked the government to take concrete steps to increase the competitiveness of the industry.
He emphasised the need of promoting special economic zones with the facility of export and import financing and tax exemptions for giving a boost to the gems and jewellery industry.
Delegation head Xiaoming Cheng, in his address, acknowledged that the overall quality of Pakistani stones was excellent, which was preferred readily in international trade shows.
He pointed out that in 1980, only 20,000 people throughout China were associated with the jewellery industry, but 30 years later, more than three million were employed in this area.
However, the rising cost of labour has emerged as a major challenge for the manufacturing sector, which has created room for Pakistan in this area.
Published in The Express Tribune, June 18th, 2015.
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