PM approves national policy framework to unlock $450 billion gemstone potential

Prime Minister Muhammad Shehbaz Sharif has granted principled approval to a comprehensive National Policy Framework aimed at revolutionising Pakistan’s gemstone sector and aligning it with international market requirements.

Presiding over a high-level review meeting on Friday, the prime minister expressed concern that despite possessing reserves worth an estimated $450 billion, Pakistan’s annual gemstone exports stand at a mere $5.8 million. He directed the immediate implementation of reforms to bridge this gap, setting an ambitious export target of $1 billion over the next five years, the PM Office said.

The PM ordered the establishment of two “Centers of Excellence” this year to foster innovation and expertise in the sector.

Directives were issued to set up international-standard testing laboratories and a formal certification regime to enhance the global credibility of “Brand Pakistan” as well.

READ MORE: Export potential over USD2bn/annum: Special body on gemstone policy highlights issues facing sector

The policy framework prioritises creating a business-friendly environment for foreign investors and encourages young entrepreneurs to lead the industry’s modernisation.

PM Shehbaz emphasised that by shifting from illegal smuggling to formal, legal export channels, Pakistan can secure billions in much-needed foreign exchange.

He further instructed that a detailed geological survey be conducted to map the geography and precise value of the country’s deposits, which include high-value stones such as emeralds, rubies, peridot, topaz, and aquamarine. To ensure smooth execution, the Ministry of Finance has been directed to immediately release the necessary funds.

The meeting was attended by federal ministers Azam Nazeer Tarar, Ali Pervaiz Malik, and other senior officials including Special Assistant to PM Haroon Akhtar, who briefed the premier on the value-chain integration and the establishment of a National Warranty Office.

The Ministry of Industries and Production on December 16, 2025 decided to establish a new Statutory Authority to act as the custodian of the policy, facilitate businesses, and ensure effective inter-agency coordination ahead of finalising a new National Gemstones Policy.

READ MORE: National Gemstones Policy: Ministry decides to establish new statutory authority

The decision was taken during a meeting chaired by the SAPM on industries and production to discuss and review the pros and cons of the national gemstones sector.

Haroon, while receiving the briefing on the gemstone sector, had stated that the new National Gemstones Policy was aimed at unlocking the vast untapped potential of Pakistan’s gemstone sector. The meeting was informed that the country’s real gemstones export potential was over $2 billion per annum. However, currently, there were no confirmed data available on the total exports of gemstones, and they have remained undocumented for a long time.