PM orders reforms in gemstones industry to enhance exports

Islamabad: Prime Minister Shehbaz Sharif on Friday decided to reform the gemstones industry for the development of this sector and enhance exports of precious stones.

He was chairing a review meeting regarding the development of the gemstone industry and the reforms of the sector in Islamabad.

The Prime Minister said he would personally head the steering committee on the development of the gemstone industry and reforms in this field. He assigned the task of implementing reforms in this sector to Minister for Privatization Abdul Aleem Khan.

Shehbaz Sharif said the Federal Government will start a pilot project in Gilgit-Baltistan for stone mining, carving, and value addition industry in line with international standards. He said the Federal Government will provide full financial support to the government of Gilgit-Baltistan. He said, unfortunately, this field remained neglected over the last 77 years. He said a valuable asset is being wasted by the traditional mining of precious stones.

Shehbaz Sharif instructed to formulate a modern action plan and its implementation within a month. He said practical measures and results regarding the reforms in the gemstone industry should be carried out.

The Prime Minister said smuggling of precious stones would not be tolerated and in this regard, a report in consultation with the Gilgit-Baltistan Government should be presented within a week.

He called for taking priority measures to obtain internationally accepted certifications for gemstones in Pakistan.

The meeting was briefed that so far 178 major licenses have been granted for the mining of gemstones in Pakistan, while 18 types of precious stones are available in the country. It was said eighty percent of Pakistan's gemstone exports are based on raw materials.

The development of the stone industry would increase domestic exports and create new employment opportunities.

The Prime Minister also directed the implementation of a comprehensive action plan for the vocational training of the Pakistani workforce in modern mining, cutting, polishing, and value addition of stones.