Pakistan’s gemstones beings sold to Thailand at throwaway prices: Senate panel told

ISLAMABAD: Pakistani precious stones are being sold to Thailand at significantly lower prices compared to their actual value, revealed officials from the Pakistan Gems and Jewellery Development Company (PGJDC) during a session of the Senate Standing Committee on Industry and Production.

The officials disclosed that these stones are subsequently cut and sold in Thailand for over Rs70,000 each. They attributed the discrepancy to the absence of proper legislation governing the export of gems and jewelry in Pakistan.

According to the officials, while India’s annual exports of gems and jewelry amount to $40 billion, Pakistan’s average annual exports stand at a mere $6 million.

Meanwhile, Thailand exports gems and jewelry worth over $8 billion, and Sri Lanka’s exports in this sector exceed $300 million.

The officials emphasized that enacting appropriate legislation is imperative for Pakistan to boost its gems and jewelry exports and compete with other countries in the region.

In other matters discussed during the session, committee member Senator Maulana Atta-ur-Rehman raised concerns about the dismissal of clerics from mosques affiliated with the Pakistan Steel Mills stating that clerics have already been sidelined from the recenly-held general election and now, the clerics face the axe.

Responding to these concerns, Pakistan Steel Mills officials cited a debt of Rs3.3 million in salary payments as the reason for the disruption. They stated that salaries for four months have been paid, with contributions from colony residents to cover mosque staff salaries, collected at a rate of Rs200 per household.

The committee chairperson noted the absence of Friday prayers at a mosque in Pakistan Steel Mills. To which, officials responded that prayers were held in all residential colony mosques, but they could not guarantee the same within the steel mills premises.

During discussions, Senator Fida Muhammad expressed dismay over the closure of four mosques at the steel mills, emphasizing that only one mosque remains operational.

In response, Industries and Production Secretary Rashid Mahmood Langriyal explained that the steel mills has been inoperative since 2016 due to economic constraints. He clearly stated that there is no possibility of reinstating the sacked employees given the current economic conditions.

Langriyal further assured the committee that all salaries had been paid until January 31, and details regarding salary payments for steel mill officials would be provided in the next meeting.