Pakistan to Unlock $450bn Gemstone Wealth Under New Policy

Prime Minister Shehbaz Sharif has approved a comprehensive national policy to develop Pakistan’s gemstone sector, aiming to unlock an estimated $450 billion in reserves and raise annual gemstone exports from $5.8 million to $1 billion within five years.

Chairing a high-level meeting, Prime Minister Shehbaz Sharif formally approved the National Gemstone Policy Framework, calling Pakistan’s untapped gemstone wealth a “game-changer” for exports and foreign exchange earnings. He stressed that despite massive natural reserves, the sector has remained underdeveloped due to lack of structure, certification, and skilled manpower.

“Pakistan has extraordinary gemstone reserves, but without proper systems, we are losing value. This policy will bring transparency, skills, and global trust,” the prime minister remarked during the briefing.

Pakistan is home to some of the world’s finest emeralds, rubies, peridot, topaz, and aquamarine, mainly located in Khyber Pakhtunkhwa, Gilgit-Baltistan, and Balochistan. However, weak regulation and widespread smuggling have kept exports extremely low. Most stones leave the country unprocessed, depriving Pakistan of billions in value-added trade.

Under the approved framework, the government will establish Centres of Excellence this year to train gemstone cutters, polishers, and valuators. International-standard testing laboratories and a formal certification and warranty system will also be introduced to ensure credibility in global markets. Geological surveys will be conducted to scientifically map gemstone deposits, while the Ministry of Finance has been directed to immediately release required funds.

A central objective of the policy is to shift gemstone trade from illegal channels to documented, regulated exports, which officials say could generate massive foreign exchange inflows and create thousands of skilled jobs.