Pakistan is set to transform its gemstone sector with a new national policy approved by Prime Minister Shehbaz Sharif. The initiative aims to unlock an estimated $450 billion in reserves and increase annual gemstone exports from $5.8 million to $1 billion within five years. The government hopes this move will boost foreign exchange earnings and create thousands of skilled jobs.
National Gemstone Policy Framework
During a high-level meeting, Prime Minister Shehbaz Sharif approved the National Gemstone Policy Framework. He called Pakistan’s untapped gemstone wealth a “game-changer” for exports. The prime minister noted that the sector has remained underdeveloped due to a lack of structure, certification, and skilled manpower. He emphasized the importance of transparency, training, and global credibility.
Rich Gemstone Reserves
Pakistan is home to some of the world’s finest gemstones, including emeralds, rubies, peridot, topaz, and aquamarine. Major deposits are found in Khyber Pakhtunkhwa, Gilgit-Baltistan, and Balochistan. Despite these rich resources, exports have remained low because of weak regulation and widespread smuggling. Many stones are exported unprocessed, resulting in the country losing billions in potential value-added trade.
Policy Goals and Implementation
The policy includes establishing Centres of Excellence to train gemstone cutters, polishers, and valuators. International-standard testing laboratories will be introduced, along with a formal certification and warranty system to enhance global trust. Geological surveys will scientifically map deposits, and the Ministry of Finance has been instructed to release necessary funds immediately.
Projected Impact by Gemstone Type
| Gemstone Type | Current Export Value | Target Export Value (5 Years) | Key Production Areas |
|---|---|---|---|
| Emerald | $2 million | $250 million | Khyber Pakhtunkhwa, Gilgit-Baltistan |
| Ruby | $1 million | $200 million | Gilgit-Baltistan, Balochistan |
| Topaz | $500,000 | $150 million | Gilgit-Baltistan |
| Peridot | $300,000 | $100 million | Balochistan |
| Aquamarine | $2 million | $300 million | Gilgit-Baltistan |
Shifting to Regulated Trade
A central aim of the policy is to move gemstone trade from illegal channels to documented, regulated exports. Officials believe this could bring massive foreign exchange inflows while creating thousands of skilled jobs. With proper training, certification, and market access, Pakistan’s gemstone sector could become a major contributor to the economy.
Future Prospects
The National Gemstone Policy Framework promises to modernize the sector, enhance transparency, and ensure Pakistan benefits fully from its natural wealth. With the right implementation, the country could emerge as a leading gemstone exporter in the global market.