09/01/2026
P**istan has given in-principle approval to its first national policy framework for gemstones and precious stones, aiming to reform the sector, meet international standards, and boost annual exports to $1 billion within five years, the Prime Minister’s Office announced on Friday.
The decision, made during a meeting chaired by Prime Minister Shehbaz Sharif, focuses on developing the largely untapped gemstones sector, despite P**istan’s rich reserves of emeralds, rubies, sapphires, peridot, and topaz.
This move comes as P**istan steps up efforts to monetize its mineral resources amid fiscal challenges and an IMF-backed reform program. Over the past two years, the country has hosted international mineral conferences and signed agreements with nations like the US, Saudi Arabia, and China to improve governance, attract foreign investment, and advance mining and mineral processing.
Although P**istan’s gemstone reserves are estimated at $450 billion, formal exports remain low—around $5.8 million annually—due to weak certification systems, limited local processing, smuggling, and fragmented regulations.
The PM’s office confirmed, “Sharif has granted in-principle approval to a national policy framework to reform P**istan’s gemstones and precious stones sector and align it with international standards.”
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