The Ministry of Industries and Production on Tuesday finalised the country’s National Gemstones Policy, aimed at boosting value addition and reviving exports in a sector that has remained largely untapped despite vast potential.
As per details the policy, which will be submitted to the federal cabinet for approval, seeks to transform the gemstones industry into a competitive, export-oriented sector by aligning quality standards with international benchmarks and introducing targeted incentives.
The policy was finalised at a meeting chaired by Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan, and attended by the secretary of the ministry, the chief executive of the Pakistan Stone Development Company, representatives of local and foreign firms, and officials from provincial mining and minerals departments.
Officials noted that Pakistan’s gemstone sector continues to suffer from high wastage, limited value addition and weak export performance. Due to unscientific extraction and processing methods, wastage of up to 50 per cent occurs at various stages, while exports have remained stuck at around $5–7 million annually.
During the meeting, specialised working groups on import–export, banking and finance, and return and refund mechanisms presented their recommendations for inclusion in the policy framework.
Mr Khan said the policy had been developed after extensive consultations with experts and stakeholders, adding that it focuses on accelerating growth, promoting value addition and improving regulatory oversight.
To stimulate the sector, the government plans to offer targeted financing, streamlined facilitation and smart incentives. The policy also proposes the establishment of a statutory authority to serve as the custodian of the policy, facilitate businesses and ensure coordination among relevant agencies.
In addition, a National Warranty Office is proposed, along with commercial desks at airports to support gemstone exporters. The warranty office would provide an integrated and transparent system for packaging, certification and export documentation, while helping introduce regulatory reforms across the sector.
