Pakistan Finalizes National Gemstones Policy to Boost Exports and Formalize Sector

Pakistan has finalized its National Gemstones Policy, a strategic move to unlock the country’s untapped gem potential and transform the industry into a competitive, export-oriented sector. The policy, aligned with Prime Minister Shehbaz Sharif’s vision, emphasizes value addition, sector formalization, and international standardization.

The policy was finalized during a high-level meeting chaired by Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan. Experts from working groups on Import–Export, Banking and Finance, and Return & Refund Policies presented recommendations for inclusion in the framework.

Haroon Akhtar Khan highlighted that the policy has been aligned with global quality standards after extensive stakeholder consultations. “Pakistan has the potential to emerge as a leader in the global gems and jewelry market,” he stated.

Addressing Sector Challenges

The gemstones sector currently faces high wastage, limited value addition, and stagnant exports. Experts note that up to 50 percent of gemstones are wasted due to unscientific extraction and processing methods. Despite enormous potential, Pakistan’s gemstone exports have remained between USD 5–7 million in recent years.

The policy seeks to overcome these challenges by formalizing the entire value chain and introducing documentation requirements. It also aims to provide targeted financing, incentives, and streamlined facilitation for industry growth.

New Regulatory Structures to Support Export Growth

A key feature of the policy is the creation of a new Statutory Authority to oversee implementation, facilitate businesses, and coordinate across agencies. Additionally, a National Warranty Office will be established to ensure efficient, transparent, and standardized support for exporters.

Commercial desks will be set up at airports, while the policy also proposes efficient courier services, online registration systems, and international digital banking solutions like Nayapay. These measures aim to simplify the export process and enhance Pakistan’s competitiveness in the global market.

Terming the gemstones industry a billion-dollar sector, Haroon Akhtar Khan emphasized that proper documentation and regulatory reforms could significantly boost the national economy. The government is committed to providing maximum facilitation to exporters while promoting growth and international competitiveness.