ISLAMABAD:
Prime Minister Shehbaz Sharif on Monday called for accelerating the development of Pakistan’s gemstone sector to boost exports and foreign exchange earnings, directing authorities to fully tap the country’s reserves and complete the Islamabad Gemstone Center by August 2027.
Chairing a high-level meeting at the Prime Minister House to review the promotion of the gemstones and minerals sector, the prime minister ordered the participation of internationally renowned experts.
The experts will be hired for the construction of the proposed gemstone centers in Islamabad, Gilgit-Baltistan (GB) and Azad Jammu and Kashmir (AJK), according to a statement from the Prime Minister’s Office.
The Prime Minister emphasized that the implementation of the policy framework must be ensured with the assistance of global experts.
“Value addition in the gemstone industry is the key to increasing our national exports,” the prime minister said, further directing that these centers be equipped with cutting-edge technology and modern machinery.
During the briefing, it was revealed that a site for the center has already been identified on Constitution Avenue in Islamabad.
The facility will offer value-added services of international standard, certification, an incubation center and a shopping mall.
To facilitate exporters, offices of State Bank of Pakistan (SBP) and Federal Board of Revenue (FBR) will also be established within the premises.
The meeting was informed that four consultation sessions have been held with stakeholders on the recently approved Gemstone Policy. Additionally, work has begun on a scientific roadmap to geofence gemstone deposits.
The Prime Minister highlighted the need for close collaboration between the federal government and the provincial governments as well as the GB and AJK administrations.
