The federal government of Pakistan has launched a five-year plan to regulate and expand the country’s precious stones market, valued at over $450 billion. The initiative aims to formalize trade channels and increase export revenue.
Pakistan is home to approximately 200 million carats of ruby and 70 million carats of emerald, alongside other valuable gemstones. The new plan will support around 610 exporters over the next five years, providing access to international exhibitions and global markets while improving registration, compliance, and traceability in the sector.
A central authority will be established to oversee business registration, provincial coordination, and exporter facilitation. This body will include representatives from both federal and provincial levels and act as the custodian of Pakistan’s national gemstone policy.
The plan also includes setting up an office to ensure the safe return of unsold export consignments. Exporters will gain access to electronic payment gateways, simplifying transactions and enhancing transparency across the sector.
To strengthen legal trade in precious stones, six dedicated working groups have been formed. These groups will focus on modernizing mining techniques, improving banking and financial systems, streamlining business registration, and arranging refunds for unsold goods. Authorities estimate that improved registration and traceability could generate more than $60 million in added value for Pakistan.
Currently, outdated processing methods lead to losses of up to 70 percent of gemstone value. The government expects modernization and better regulation will significantly reduce these losses, making the market more competitive internationally.
Officials emphasized that the initiative is a major step toward formalizing the sector, boosting exports, and unlocking the full economic potential of Pakistan’s vast gemstone reserves. Quarterly implementation reports will be required from all institutions under the national action plan to ensure accountability and progress.
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This five-year plan marks a strategic effort by Pakistan to enhance its precious stones industry and strengthen its position in global markets.
