NA panel to sit with GB, AJ&K and KP reps: Gemstones export strategy being designed

ISLAMABAD: A parliamentary panel has decided to invite Secretaries of Minerals Development of Gilgit Baltistan (GB), Azad Jammu and Kashmir (AJ&K) and Khyber Pakhtunkhwa (KP) to know their issues and proposed solutions aimed at making a comprehensive strategy to export precious gemstone varieties after value addition.

The NA panel on Commerce Ministry headed by Atif Khan, PTI MNA, discussed the reasons for the decline in export of gemstones from $ 1.5 billion to $ 800 million and future strategy to enhance exports.

Engineer Gul Ashgar Khan Baghoor, MNA, who prepared the strategy on gems and shared it with the Council on Gems, apprised the worth of Pakistani precious gemstones and flaws in the policy.

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He said exports of gemstones had reached $ 1.5 billion at the time when Pakistan Gems and Jewellery Development Company (PGJDC) was headed by Chief Executive Officer (CEO), from the private sector, adding that gemstones of $ 5 billion are smuggled per annum; adding that gemstones from Afghanistan are exported via Pakistan.

He suggested that those people who are engaged in informal business of gemstones should be included in the chain instead of taking action against them.

Currently, additional charge of PGJDC has been assigned to the CEO of NPO (National Productivity Organisation), which according to the representative of Commerce Ministry was now a paper Organisation. He further stated that like former Prime Minister Imran Khan, incumbent Prime Minister is also keen to develop this sector as it has immense export potential.

According to Commerce Ministry, key regions and gemstone varieties are as follows: (i) Gilgit Baltistan - Emeralds (Shagir Region), Rubies (Hunza Valley), Sapphires, Tourmaline and Aquamarine; (ii) KPK - Topaz, Garnet, Quartz (Amethyst, Citrine), Lapis Lazuli; (iii) Balochistan - Peridot, Malachite, Chrysocolla, Agate; (iv) Sindh - Jade, onyx; (v)Punjab - Quartz, Calcite; and (vi) Azad Jammu and Kashmir - Ruby, tourmaline and pegmatite.

Representative of Commerce Ministry Muhammad Ashraf informed the panel that Prime Minister Shehbaz Sharif has also held a meeting on minerals and directed that first of all a study should be conducted to identify actual reservoirs and then an export strategy formulated. Prime Minister wants to increase export of gemstones to $ 15 billion from existing level of $ 800 million.

He said the gemstone sector in Pakistan holds immense potential for economic growth, yet it remains constrained by various challenges that can be effectively addressed through a robust regulatory framework, adding that establishing such a framework is vital for harnessing the true capabilities of the sector and creating sustainable, profitable environment for stakeholders involved.

He further stated that establishing and enforcing international standards for gemstone certification can boost the credibility and attractiveness of Pakistan’s gems in global markets.

Copyright Business Recorder, 2024