Pakistan is taking a major step toward revitalizing its long-neglected gemstone sector. The Ministry of Industries and Production has formally forwarded the National Gemstones Policy to the federal cabinet for approval, signaling a renewed push to transform the industry into a value-driven, export-oriented sector.
The policy was finalized during a high-level stakeholders’ meeting chaired by Haroon Akhtar Khan, Special Assistant to the Prime Minister on Industries and Production. The session brought together key government officials, industry experts, representatives of local and international companies, and provincial mining and minerals departments to shape a comprehensive roadmap for the sector.
A Policy Built on Consultation and Global Standards
According to Mr Khan, the policy has been developed after extensive consultations with industry specialists and aligns Pakistan’s gemstone standards with international best practices. Working groups focusing on imports and exports, banking and finance, and return and refund mechanisms presented detailed recommendations, all of which have been incorporated into the final policy framework.
The overarching goal is clear: accelerate growth, promote value addition, and position Pakistan as a competitive player in the global gemstone market.
Addressing Deep-Rooted Challenges
Despite Pakistan’s rich reserves of precious and semi-precious stones, the gemstone sector has struggled for years. Industry stakeholders at the meeting highlighted several structural issues, including high wastage, outdated extraction techniques, limited processing capacity, and declining exports.
Unscientific mining and processing methods result in up to 50 percent wastage at various stages of production. As a result, gemstone exports have remained stagnant at just $5–7 million annually, a fraction of the sector’s true potential.
From Raw Stones to Global Exports
The new policy places strong emphasis on value addition, aiming to shift the industry away from raw exports toward cutting, polishing, certification, and branding. To support this transition, the government plans to introduce targeted financing, streamlined regulatory facilitation, and smart incentives tailored to industry needs.
These measures are expected to encourage investment, improve product quality, and significantly boost export revenues over time.
A New Authority to Drive Reform
One of the most significant features of the National Gemstones Policy is the proposal to establish a dedicated Statutory Authority. This body will serve as the custodian of the policy, provide a single-window facilitation mechanism for businesses, and ensure effective coordination among federal and provincial agencies.