Pakistan’s gemstone sector comes under govt focus

ISLAMABAD: Prime Minister Shehbaz Sharif on Friday signalled a major push to transform the country’s gemstones sector, granting in-principle approval to a sweeping new policy framework designed to modernise the industry, align it with global standards, and make the country a more attractive destination for foreign investment.

While chairing a high-level meeting focused on the country’s gemstone reserves, sectoral reforms, export enhancement, and the introduction of modern technology, the PM stressed the need for adhering strictly to the policy’s action timeline within the current year.

The officials gave the PM a detailed briefing on the potential of gemstones in the country, a regional comparative review, the steps required to increase exports, and the outline and implementation timeline of the national policy framework.

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According to the officials, Pakistan possesses vast reserves of precious stones, estimated at USD 450 billion. More than 5,000 companies and businesses are currently involved in the sector, processing over 30 different types of gemstones found in the country. Among the most prominent stones in Pakistan are emeralds, peridot, ruby, topaz and blue topaz.

Despite these significant reserves, it was noted that Pakistan’s annual gemstone exports amount to only USD 5.8 million. In the process of preparing the national policy framework, the Ministry of Industries and Production identified key challenges and developed a comprehensive action plan, with the goal of achieving a USD 1 billion export target in the sector over the next five years.

Under the policy framework for this year, the ministry is set to work on integrating the gemstone value chain into the national economy, increasing the value of gemstones through local processing, introducing modern technology, providing training programmes for the private sector, and promoting Brand Pakistan.

The policy framework includes important measures, such as an international certification regime, the establishment of a dedicated authority to boost sector development and investment, the creation of a National Warranty Office, geological mapping, modern technology for gemstone mining, the promotion of Brand Pakistan, and the establishment of centres of excellence. A timeline for the implementation of the policy framework was also shared.

Emphasising the country’s rich gemstone reserves, Prime Minister Sharif instructed that geological surveys be conducted to assess the geographical distribution and value of these resources, with full consultation from relevant institutions, provincial governments, and stakeholders.

He also called for immediate steps to set up laboratories and certification systems that meet international standards.

To further strengthen the sector, the PM directed the establishment of two model centres of excellence for gemstones this year, staffed by international experts, to address any challenges in implementing the policy.

He underlined the potential of the country’s gemstone sector, noting that exports remain low in comparison to the country’s vast reserves, and called for greater involvement of private companies, particularly young entrepreneurs, in the industry.

The PM stressed that tackling smuggling and promoting legal exports could bring billions of pounds in foreign exchange.

He also directed the finance ministry to ensure the prompt release of available funds for the development of the sector.

The meeting was attended by Federal Minister for Petroleum Ali Pervaiz Malik, Law and Justice Minister Azam Nazeer Tarar, Minister of State for Finance Bilal Azhar Kayani, the special assistant to the PM on industries Haroon Akhtar, and senior government officials.

Copyright Business Recorder, 2026