Prime Minister Muhammad Shehbaz Sharif has approved a new National Policy Framework to develop Pakistan’s gemstone sector. The plan aims to unlock export potential and increase foreign exchange earnings. PM Shehbaz described the gemstone industry as a largely untapped national asset.
During an official review meeting, PM Shehbaz said Pakistan holds gemstone reserves valued at around $450 billion. Despite this large potential, annual gemstone exports remain very low. Current exports stand at nearly $5.8 million, which the prime minister called unacceptable.
To address this gap, PM Shehbaz set a clear export target. He directed authorities to raise gemstone exports to $1 billion within five years. The goal is to bring the sector into the formal economy and boost national revenue.
A key part of the policy focuses on skill development. PM Shehbaz ordered the establishment of Centres of Excellence within the current year. These centers will train experts in mining, cutting, polishing, and gemstone valuation. Skilled manpower is seen as essential for competing in global markets.
The prime minister also approved the creation of international-standard gemstone testing laboratories. These labs will help verify quality and authenticity. In addition, a formal certification and warranty system will be introduced. This system aims to improve buyer trust and market credibility.
Another major objective is to curb illegal gemstone smuggling. Large volumes are currently exported through undocumented channels. The new framework seeks to shift this trade into legal and transparent processes. Officials believe this will significantly increase foreign exchange inflows.
PM Shehbaz also directed authorities to carry out detailed geological surveys across gemstone-rich regions. The surveys will map the location, quality, and value of deposits. Stones to be surveyed include emeralds, rubies, peridot, topaz, and aquamarine.
To ensure fast implementation, the Ministry of Finance has been instructed to release required funds immediately. The prime minister stressed that delays would harm economic progress.
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The new policy reflects the government’s wider export-led growth strategy. If fully implemented, the gemstone sector could create jobs and support economic stability. The initiative signals a renewed focus on turning natural resources into sustainable national income.
