PM approves National Policy Framework for gems and precious stones sector

WEB DESK: Prime Minister Muhammad Shehbaz Sharif chaired a high-level meeting on the gems and precious stones sector, during which officials presented a detailed briefing on challenges and reform measures. The prime minister approved a national policy framework aimed at reviving and regulating the sector and directed authorities to ensure the implementation of assigned actions within the current year.

Focus on Mapping Reserves and Valuation

Highlighting Pakistan’s vast but underutilised gemstone reserves, the prime minister ordered priority-based surveys to identify the geographical spread and commercial value of deposits. He stressed the need for accurate data to guide policy decisions and attract investment.

Investment-Friendly Environment and Stakeholder Coordination

PM Sharif directed that the policy framework prioritise the creation of a conducive environment for foreign investment, while ensuring close coordination among federal institutions, provincial governments, and industry stakeholders.

Centres of Excellence for Gemstones

To strengthen capacity and value addition, the prime minister approved the establishment of two model centres of excellence dedicated to gemstones. He noted that despite Pakistan’s high-quality stones being internationally recognised, exports remain negligible.

Crackdown on Smuggling, Boost to Exports

The prime minister emphasised curbing smuggling and promoting legal exports to enhance foreign exchange earnings. He also instructed that international experts be engaged to remove obstacles hindering effective implementation of the policy framework, reaffirming the government’s commitment to unlocking the sector’s economic potential.