The federal government has officially approved the National Gemstone Policy 2026–2030, a major initiative designed to formalize Pakistan’s gemstone sector, increase exports, and unlock an estimated $450 billion in precious and semi-precious mineral resources.
Approved by the Economic Coordination Committee (ECC), the policy aims to overhaul an industry where more than 95 percent of business is currently conducted through informal channels. This has contributed to low export earnings, weak regulatory oversight, and substantial losses in foreign exchange.
According to the Ministry of Industries and Production, Pakistan is home to some of the world’s richest gemstone reserves. Despite this, the country officially exports only $5 million to $7 million worth of gemstones each year, accounting for just 0.3 percent of the global gemstone market.
Under the new policy, the government plans to increase annual gemstone exports to nearly $500 million by 2030. The strategy focuses on formalizing the sector, promoting value-added processing, obtaining international certifications, and improving access to global markets.
A major component of the policy is the creation of a statutory National Gemstone Authority, which will be formed by merging the Pakistan Gems and Jewellery Development Company along with its staff and assets. The authority will regulate the gemstone industry, maintain a national business registry, oversee certification and traceability systems, facilitate trade, and ensure effective implementation of the policy.
To strengthen confidence among international buyers, the government will establish a National Warranty Office responsible for inspecting, valuing, certifying, and sealing gemstone export consignments. The office will coordinate with Pakistan Customs, Pakistan Single Window, banks, and courier services to simplify export procedures and minimize trade disputes.
The policy also introduces minimum export price benchmarks and Pakistan-specific Harmonized System (HS) codes to improve trade documentation and discourage under-invoicing. A National Gemstone Business Registry will connect traders with customs, financial institutions, and certification authorities.
To modernize the gemstone industry, the government plans to establish machinery rental pools, demonstration mines, advanced cutting and polishing centers, skills development programs, easier access to mining equipment, and regulated access to explosives for licensed miners. The policy also supports the import of rough gemstones and modern processing machinery to boost domestic value addition.
Additionally, Pakistan will launch a unified national gemstone brand backed by international certifications, global marketing campaigns, and participation in international trade exhibitions to strengthen its presence in global markets.
Also Read: What’s Next for Pakistan’s $450B Gemstone Market?
