Islamabad: Pakistan is gearing up to host its first
international gemstone exhibition in July this year, signalling its efforts to
strengthen the country’s gemstone export sector. The ambition was recently
outlined by the country’s Prime Minister, Shehbaz Sharif.
Aimed at unlocking the sector’s untapped potential, the
government also plans to establish three lapidary centres for the cutting and
polishing of gemstones, a move that could support jewellery production and
value addition. Land has already been identified for two gemstone centres in
Gilgit-Baltistan and Azad Jammu and Kashmir, while efforts are under way to
finalise the location for a third centre, likely to be established in
Islamabad.
These measures are expected to increase Pakistan’s annual
gemstone exports, which currently hover around $5.8 million despite the country
having an estimated $450 billion in gemstone reserves, as per reports.
The upcoming exhibition is likely to support the
government’s wider efforts in the sector. Over the last two years, Pakistan has
hosted international minerals conferences and signed agreements with countries
including the United States, Saudi Arabia and China to attract investment and
move up the value chain in mining and mineral processing.
As the country focuses on aligning its gemstone exports with
international standards, it has also taken strategic steps in this direction.
In January this year, Pakistan approved its first National Policy Framework for
gems and precious stones and has set a target to increase annual exports to $1
billion within five years.
Additionally, the government is promoting modern gemstone
mining techniques and low-waste practices. Nearly 1,000 individuals have also
been trained as part of these efforts.
Pakistan’s push also comes at a time when regional
competition in gemstone value addition is becoming more visible. India has
already built a strong position as a global gem and jewellery processing and
export hub, with Jaipur recognised for coloured gemstone cutting and jewellery
manufacturing, and Surat known for diamond processing. Against this backdrop,
Pakistan’s focus on lapidary centres, modern mining practices and international
exhibitions signals an attempt to move beyond raw gemstone potential and build
a stronger export-ready value chain.
