ISLAMABAD: The federal government of Pakistan has approved a comprehensive five-year plan to enhance the export and regulation of gemstones worth billions of dollars.
Under the initiative, 610 exporters will be given opportunities to showcase their products in international markets. A central authority, including federal and provincial representatives, will oversee registration, coordination, and facilitation for the sector.
The National Gemstone Policy Office will monitor implementation, ensure the return of unsold goods, and provide exporters with e-payment gateways to simplify transactions.
Six working groups have been formed to improve banking, financial systems, mining innovation, and business registration processes. Authorities anticipate value addition exceeding $60 million through registration and traceability.
Pakistan is home to gemstones valued over $45 billion, including 200 million carats of ruby and 70 million carats of emerald. Traditional processing methods currently result in up to 70% wastage.
