Pakistan has taken a major step toward unlocking its mineral potential by approving the country’s first-ever National Gemstones Policy, with an ambitious target of $1 billion in gemstone exports within five years. Prime Minister Shehbaz Sharif granted in-principle approval during a high-level meeting in Islamabad, marking a turning point for a sector that has remained largely informal and underdeveloped.
Despite holding world-class reserves of emeralds, rubies, sapphires, peridot, and topaz, Pakistan’s current export rate is very low, and it is only a fraction of its capacity due to
- Weak regulation
- Limited processing capacity
Why the National Gemstones Policy Matters
Pakistan’s gemstone reserves are estimated at nearly $450 billion, yet formal exports stand at just $5.8 million annually. Smuggling, lack of certification, and fragmented governance have long held the sector back.
The national gemstones policy aims to fix these gaps by aligning Pakistan’s gemstone industry with international standards. The policy also supports the government’s broader strategy to monetize natural resources amid fiscal pressure and IMF-backed economic reforms.
Key Reforms Under the Pakistan National Gemstones Policy
The newly approved policy introduces several structural reforms, including:
• Geological mapping to accurately assess gemstone reserves
• Establishment of internationally accredited testing and certification laboratories
• Creation of a dedicated regulatory authority for gemstones and precious stones
• Launch of a National Warranty Office to improve buyer confidence
• Development of at least two Centers of Excellence for training and research
These steps aim to bring transparency, traceability, and credibility to Pakistan’s gemstone exports.
Focus on Value Addition and Jobs
A core goal of the Pakistan national gemstones policy is to shift exports from raw stones to cutting, polishing, branding, and finished jewelry. This value-added approach can significantly raise export earnings while creating skilled jobs, especially for youth and small entrepreneurs.
The policy strongly encourages private sector participation and supports young businesses entering gemstone processing and design.
Government is highly committed to the Pakistan National Gemstone policy
Prime Minister Shehbaz Sharif ordered the Ministry of Finance to make certain on-time funding resources for policy execution. He also emphasized upon close coordination with
- Provincial governments
- Industry stakeholders
- International experts to remove long-standing bottlenecks.
They are also showing performance on curbing smuggling and routing exports through legal channels. Furthermore, the government is thinking that the gemstones sector to become a reliable source of foreign exchange.
A New Era for Pakistan’s Gemstone Industry
Pakistan is thinking of giving a modern touch to the sector with the approval of gemstone industry approval. If the policy works effectively, the reforms are going to transform gemstones into a billion-dollar export industry in the future, strengthen investor confidence, and place Pakistan firmly on the global gemstone map.