Pakistan PM seeks gemstone mining strategy within a month to boost export revenue

In this photograph taken on June 24, 2014, a Pakistani craftsman checks a gemstone at a workshop in Peshawar. (AFP/File)

• There are 18 types of gemstones in Pakistan for which 178 major mining licenses have been issued
• Pakistan loses significant revenue since 80 percent of its gemstone exports are done in raw form

ISLAMABAD: Prime Minister Shehbaz Sharif instructed relevant authorities on Friday to prepare a strategy for gemstone mining in the Gilgit-Baltistan region within a month to minimize unnecessary wastage and enhance export revenue from precious stones.
Pakistan has significant gemstone reserves, particularly in its northern and northwestern regions, which include a variety of high-quality stones such as peridot, aquamarine, topaz, ruby and emerald.
Earlier this year in May, the prime minister spoke in favor of granting industry status to the country’s gemstone sector, citing its economic potential following a 47 percent increase in the export of pearls and precious stones to China in 2023.
According to an official statement, he highlighted his government’s interest in launching a pilot project in Gilgit-Baltistan to align the gemstone mining, cutting and value addition industry with international standards.
“It is unfortunate that in 77 years, this sector has not received the attention it deserves,” the prime minister said. “The traditional methods of gemstone mining are leading to the wastage of valuable resources.”
“A modern strategy aligned with international standards should be formulated within a month, and steps should be taken for its implementation,” he added.
The official statement said there are 18 types of gemstones in Pakistan for which 178 major mining licenses have been issued.
It also noted that 80 percent of Pakistan’s gemstone exports are in raw form.
The prime minister said the gemstone mining strategy should outline practical steps for the necessary reform and development of the gemstone industry in the country.
“Priority measures should be taken to acquire internationally recognized certifications for gemstones in Pakistan,” he continued.
The statement added the development of the gemstone industry is expected to increase national exports and create new employment opportunities.