Despite having billions of dollars worth of gemstones, Pakistan’s share in the global market is only 0.3 percent. To address this, the government has set a plan to regularize and boost gemstone exports, setting a target of $350 million by 2030.
According to the policy document, over the next five years, 610 exporters will be given opportunities to display their products in international markets. The plan proposes the creation of a central authority to streamline business registration, provincial coordination, and facilitation, including representatives from both federal and provincial governments. The authority will oversee the National Gemstone Policy.
A National Variety Office will be established to ensure the return of unsold stock, while exporters will be provided e-payment gateway facilities to simplify transactions.
To promote legal gemstone trade, six working groups have been formed, focusing on areas such as banking, financial management, refunds for unsold stock, mining innovation, and business registration. The policy expects value addition of over $60 million through registration and traceability measures. All participating agencies will submit quarterly progress reports to the Ministry.
Officials estimate that Pakistan has over $45 billion worth of gemstones, including 200 million carats of ruby, 70 million carats of emerald, and other precious stones. Currently, 70 percent of gemstones are lost due to traditional processing methods.