Government Plans to Promote Precious Gem Exports
Prime Minister Imran Khan announced the establishment of a “gem, mineral, and jewelry city” to increase exports and generate revenue, citing Pakistan’s status as the seventh largest producer of precious stones.
According to the meeting, Pakistan has the potential to export rare stones worth $5 billion annually, which would have a positive effect on the country’s economy and generate a big number of employment opportunities.
The prime minister was told of the planned mining city recommendations and the reform of the gems, jewelry, and minerals sector.
According to the research, Pakistan possesses 99 separate precious gem reserves, making it the seventh largest country in terms of output. It is projected that 200 tonnes of gold were consumed in Pakistan, and this industry might become one of the most important with the implementation of stronger regulations and processes.
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In addition, a gems and jewelry city would be constructed to consolidate all resources in one location, facilitate the resolution of issues through a single point of contact, and provide facilities for investors.
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