the Government of pakistan has approved a national gemstone policy to unlock $450 billion reserves, boost exports to $1 billion, and formalise the sector.    The National Policy to Realise Pakistan’s Gemstone Potential 2026–2030 is a landmark five year economic framework  approved by the economic coordination commitee (ECC).   The new policy is designed  to formalize an largely undocumented sector, it targets unlocking the country's vast untapped mineral wealth by boosting exports, restricting smuggling, and shifting focus toward domestic value addition.      Pakistan holds massive, largely unexplored gemstone reserves (including emeralds, rubies, and peridot).    The policy aims to formalize the trade, curb smuggling, and ramp up gemstone exports.   A specific target of    in domestic value addition by 2030 is set. The state plans to move the industry away from exporting raw, uncut stones by encouraging local cutting, polishing, and branding.         The establishment of at least two model Centers of Excellence is planned to facilitate modern mining techniques, expert training, and cutting-edge research.        To build global credibility, the government is rolling out international-standard testing laboratories and a formal National Warranty Office.     The policy heavily targets localized economic development in areas with high reserves, notably Gilgit-Baltistan, Khyber Pakhtunkhwa (KPK), and Azad Jammu and Kashmir (AJK).       To ensure a consistent supply of raw materials for domestic processing, the policy proposes easing restrictions on the import of rough gemstones from other global markets for domestic beneficiation and re-export.    Pakistan is home to some of the world’s most valuable gemstones. Yet, despite an estimated reserve value of around $450 billion, the country’s official gemstone exports are only about $5.8 million a year. Most of the trade is informal, undocumented, and routed through middlemen or smuggling channels, which means the state earns little revenue and the real value is captured outside Pakistan.     A major feature of the plan is the establishment of two “Centers of Excellence” in the gemstone sector within this year. These centres will focus on training, research, and innovation. They are expected to develop local expertise in cutting, polishing, grading, and jewellery design, so that Pakistan does not remain only a raw material supplier.    By investing in skills, the government aims to capture more value within the country. Trained workers and entrepreneurs will be able to move up the value chain from mining to finished products, which can fetch much higher prices in international markets. (ICE ISLAMABAD)

Fonte notizia: the nation