The government of Pakistan is launching a significant initiative to regulate the nation’s sprawling gemstone sector, a trade estimated to be worth around USD 2 billion annually in the informal economy, through the formulation of a new National Gemstones Policy.
The announcement was made on Friday by Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) on Industries and Production. He confirmed that the comprehensive framework is being drafted under the special directives of Prime Minister Shehbaz Sharif to enhance exports and bring the largely undocumented industry into the formal economic fold.
Khan’s disclosure followed a high-level meeting in Islamabad with Barneby Plowright, a leading international gemstones exporter, to discuss policy reforms and avenues for global collaboration. The SAPM also toured Mr. Plowright’s gemstone facility, where he was briefed on the complete process of diamond polishing, grading, and packaging.
Under the new framework, gemstone exporters will be granted “industry status,” a move designed to bring transparency, regulation, and accountability to the sector. This official recognition aims to unlock new opportunities for investment, job creation, and foreign exchange earnings.
‘The National Gemstones Policy will bring this valuable sector into the formal economy,’ Khan stated, adding that the policy is on a fast track and will be finalized within a month. The strategy will draw upon international best practices and successful global models to ensure its effectiveness.
The Special Assistant underscored Pakistan’s immense potential, noting that the country is home to some of the world’s finest and most diverse mineral resources. He commended Mr. Plowright and his team for their technical expertise and contribution to advancing gemstone processing and value addition within Pakistan.
Haroon Akhtar reiterated the government’s commitment to transforming the gemstone trade into a modern, export-oriented industry capable of contributing billions of dollars to the national economy.