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Tuesday, November 5, 2024

Pakistan can Earn Over $5 Billion Annually by Exporting Precious stones, Imran khan

PM Imran Khan conducted a meeting of gems, jewellery and minerals task force. Federal Minister for Industry Makhdoom Khusro Bakhtiar, Special Assistant Dr Shahbaz Gul, Chairman Gems and Jewelry Task Force Engineer Gul Asghar Khan, Atif Khan, and other relevant senior officers were also present in the meeting.

There were two main recommendations made, the first one to the restructuring of gems, Minerals division of the task force and the second one to made to produce a Mineral City.

Pakistan has the potential to generate 5 billion USD annually by the exportation of precious stones, in return that will boost up the economy of the country as well as it will produce more jobs.

Currently, Pakistan is the eighth largest producer in the world, having 99 kinds of precious stones. According to an estimate, Pakistan eats up 200 tons of Gold annually, with proper management and implementation of relevant policy it will be converted into the major export industry in the country.

Pakistani embassies will also help in this regard to increase exports of these precious stones. Furthermore, a Gems and jewellery City will be set up to pool resources, provide one-stop operations to address the problems that are faced by the sector and provide incentives to investors. Pakistan will also get sector-related certification that will give access to international markets.

There will be advancements in research and the latest technology will be used to enhance the capabilities of this sector instead of traditional practices that will increase the exports of these stones.

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