Gems, precious stones sector: PM seeks steps to elevate status

ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif wanted taking steps to give the status of regular industry to the gems and precious stones sector.

While presiding over a meeting regarding the gems and precious stones sector in Pakistan on Wednesday before leaving Islamabad for Tehran, the prime minister directed that steps should be taken to give the status of regular industry to the gems and precious stones sector.

Earlier, the meeting was given a detailed briefing regarding gemstones and precious stones sector of Pakistan. The meeting was told that there is a need for mapping in Khyber-Pakhtunkhwa, Gilgit-Baltistan, and Azad Jammu and Kashmir with regard to precious stones.

The meeting was informed that a strategy is being prepared regarding investments in the field of gems and rare stones.

The premier further directed that an action plan should be prepared immediately regarding gems and precious stones sector. In this regard, he emphasised on the need for necessary consultation with the private sector. He stressed the need to increase internal relations with the provinces, as well.

Shehbaz Sharif further directed the Gems and Jewellery Development Company to be activated immediately and to initiate the necessary legislative process for the development of the precious stones industry. He directed that training programmes should be started regarding value addition in the gemstone industry.

Talking to the participants of the meeting, he said that most of the regions of the country, especially Khyber-Pakhtunkhwa, Gilgit-Baltistan, and Azad Jammu and Kashmir, have immense natural resources which need to be properly exploited. He said that there is a need to work on international certifications of precious stones and the products prepared by them to ensure Pakistani representation in international exhibitions.

The meeting was attended by the Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Finance and Revenue Muhammad Aurangzeb, Federal Minister for Commerce Jam Kamal Khan, Minister for Petroleum Musadik Malik, Governor State Bank (SBP) Jameel Ahmed, and senior officials of concerned ministries.

Copyright Business Recorder, 2024