Pakistan to Launch Policy to Document $2bn Gem Industry
New framework to formalize $2bn informal gemstone trade and grant exporters industry status.
Pakistan is drafting a comprehensive National Gemstones Policy aimed at formalizing and regulating the country’s largely undocumented gemstones trade, currently estimated at over US$2 billion, Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan said.
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Speaking after a meeting with leading international exporter Barneby Plowright in Islamabad, Khan said the policy is being developed on the direct instructions of Prime Minister Shehbaz Sharif to promote gemstone exports and provide structural support to local manufacturers and traders. The new framework will grant industry status to gemstones exporters, integrating them into the formal economy and enabling greater access to financing, training, and global markets.
The upcoming policy, expected to be finalized within one month, will incorporate international best practices and global models, focusing on transparency, skill development, and value addition through modern cutting, polishing, and grading technologies. The move aims to help Pakistan capitalize on its mineral potential and generate billions in additional export revenue.
During his visit to Mr. Plowright’s gemstone facility in Islamabad, the Special Assistant reviewed the end-to-end process of diamond polishing, grading, and packaging. He lauded the company’s efforts in introducing modern processing and innovation techniques to Pakistan’s gemstone industry.
Highlighting the country’s mineral wealth, Khan said Pakistan possesses some of the world’s finest quality rubies, emeralds, topaz, and tourmaline, found mainly in Khyber Pakhtunkhwa and Gilgit-Baltistan. He added that formalizing the sector would not only boost exports but also create new employment opportunities in mining regions.
The National Gemstones Policy is part of the government’s broader industrialization and export diversification agenda, which seeks to transform Pakistan’s resource-based sectors into value-added, globally competitive industries.
