ISLAMABAD: In a bold push to unlock the country’s hidden wealth, Prime Minister Shehbaz Sharif on Monday called for the development of the vast gemstone reserves, highlighting their potential to boost exports and generate vital foreign exchange.
The prime minister while chairing a high-level meeting to discuss the promotion of precious stones and minerals, emphasised the potential of the gemstone sector to become a major contributor to the country’s economy.
The prime minister directed that internationally renowned experts be brought on board for the establishment of the proposed Gemstone Centres in Islamabad, Gilgit-Baltistan, and Azad Jammu and Kashmir.
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He said that these centres will serve as hubs for value addition, research, and development in the gemstone industry, ensuring that Pakistan can meet international standards in the sector.
Sharif highlighted the urgency of completing the Islamabad Gemstone Centre by August 2027, underscoring that the initiative could pave the way for significant economic growth by transforming the gemstone sector into a global player.
He also stressed the importance of a solid policy framework, which he urged to be developed with the guidance of international experts.
“The gemstone industry holds immense potential for Pakistan. With proper investment in value addition and international-grade infrastructure, we can increase exports and generate valuable foreign exchange,” Sharif stated.
In a bid to modernise the sector, the prime minister called for the installation of cutting-edge technology and state-of-the-art equipment at the proposed Gemstone Centres.
Additionally, he instructed provincial governments, as well as the administrations of Gilgit-Baltistan and Azad Jammu and Kashmir, to work in close collaboration to promote the gemstone industry and ensure its growth.
A detailed briefing was given to the prime minister, outlining the steps already being taken to promote the gemstone sector.
Officials revealed that four sessions had been conducted to align stakeholders on the newly approved Gemstone Policy, which is designed to create an enabling environment for the industry’s growth.
In a significant development, it was shared that a prime location on Constitution Avenue in Islamabad has been identified for the establishment of the Islamabad Gemstone Centre.
The centre is envisioned as a world-class facility offering value addition services, certification, and an incubation centre for gemstone-related businesses.
Additionally, the centre will house the offices of the State Bank of Pakistan (SBP) and the Federal Board of Revenue (FBR), facilitating smoother financial and tax-related operations for gemstone exporters.
They added that work has begun on a scientific geofencing roadmap for gemstones, aimed at regulating and tracking gemstone trade more effectively, ensuring transparency, and minimizing illegal trafficking.
The meeting was attended by several senior government officials, including Minister of State for Finance and Railways Bilal Azhar Kiani, adviser to the prime minister on industries Haroon Akhtar, and other senior officials.
Copyright Business Recorder, 2026