LCCI chief for giving jewellery sector status of formal industry

LAHORE: A standing committee meeting on reforms in the gems and jewellery sector was held under the chairmanship of Faheem Ur Rehman Saigol, President of the Lahore Chamber of Commerce and Industry. Former President Muhammad Ali Mian was also present, along with the President of the Gems and Jewellery Association Sheikh Muhammad Zahid, General Secretary Hamad Maqsood Gul, Joint Secretary Aqeel Ahmed, Information Secretary Muhammad Asif, and executive committee members Hassan Gul, Saleem Ghori, Khizer Butt, Salman Yousuf, Hafiz Umar, Rana Qaiser, Zeeshan Butt, Imran, Waleed, and Zaki.

During the meeting, the President highlighted that Pakistan’s jewellery sector has very low exports, while globally this sector earns billions of dollars. Faheem Ur Rehman Saigol emphasized that the sector should immediately be given the status of a formal industry to avail benefits.

Various reforms were discussed in the meeting, including a clear mechanism for fixing gold rates, the availability of testing labs, and the establishment of an authority for gold and silver.

The President asked the association to send their budget proposals to the Lahore Chamber so that the Chamber could forward them to the government.

Copyright Business Recorder, 2026