Govt approves National Gemstone Policy to boost exports to $500 million by 2030

The federal government has approved the National Gemstone Policy 2026-2030, aiming to formalise Pakistan's gemstone sector and increase annual exports from $5-7 million to around $500 million by 2030. 

BR reported that the Ministry of Industries and Production informed the Economic Coordination Committee (ECC) that Pakistan possesses some of the world's largest deposits of precious and semi-precious gemstones, with estimated reserves exceeding $450 billion.

Despite these reserves, official gemstone exports account for only $5-7 million annually, representing around 0.3% of global trade.

According to the ministry, more than 95% of the country's gemstone trade takes place through informal channels, limiting export earnings due to fragmented regulation, weak certification and valuation systems, high mining losses, limited access to finance and international markets, and foreign exchange leakages.

To address these issues, the policy seeks to establish a transparent and regulated gemstone value chain, promote domestic value addition and position Pakistan as a reliable supplier of ethically mined and certified gemstones.

The strategy is built around three pillars: formalising the sector through registration, traceability and certification; increasing value addition through modern mining techniques and improved financing; and enhancing global competitiveness by complying with international standards.

A key proposal is the creation of a statutory National Gemstone Authority through the merger of the Pakistan Gems and Jewellery Development Company, including its staff and assets.

The authority will regulate and coordinate the sector, maintain a national business registry, implement certification and traceability systems, facilitate trade and oversee implementation of the policy.

The policy also proposes establishing a National Warranty Office to standardise gemstone inspection, valuation, certification and sealing of export consignments.

The office will work with Pakistan Customs, Pakistan Single Window, banks and courier companies to improve export documentation, reduce disputes and strengthen logistics.

To improve transparency, the policy introduces minimum export price benchmarks, Pakistan-specific HS codes and a National Gemstone Business Registry that will assign unique business identifiers linked to customs, banking and certification systems.

The government also plans to facilitate temporary exports, returns and refunds, include gemstones in the business-to-consumer e-commerce export regime and promote digital payment systems in coordination with the State Bank of Pakistan.

The policy includes measures to improve mining productivity through machinery rental pools, demonstration mines, controlled access to explosives, expanded cutting and polishing facilities, skills development programmes and easier imports of rough stones and modern equipment.

It also aims to strengthen Pakistan's presence in international markets through globally recognised certification systems, a unified "Pakistani Gemstone" brand and participation in international exhibitions.

Implementation will be overseen by a Steering Committee chaired by the Minister for Industries and Production, while the proposed National Gemstone Authority will serve as the central coordinating body.

The ministry said initial federal funding would be required to establish the authority and implement priority initiatives, although it is expected to become largely self-sustaining through service charges and fees over time.

Implementation will also require enabling legislation and amendments to relevant rules, statutory regulatory orders and State Bank regulations.

The policy was approved in principle by Prime Minister Muhammad Shehbaz Sharif on January 9, 2026, subject to stakeholder consultations. The Ministry of Industries and Production said feedback from the ministries of Commerce and Energy, the State Bank of Pakistan, the Federal Board of Revenue, Pakistan Post, the Pakistan Mineral Development Corporation and industry representatives has since been incorporated, with all stakeholders supporting the policy in principle.