Initiatives for developing gemstone sector lauded

Islamabad:President Islamabad Chamber of Commerce and Industry (ICCI), Ahsan Zafar Bakhtawari, on Monday lauded the government’s directives to develop a comprehensive strategy for gemstone mining in Gilgit-Baltistan, aimed at reducing gemstone wastage.

He noted that authorities had been instructed to devise a strategy for gemstone mining in the Gilgit-Baltistan region within a month, with the goals of minimizing wastage and boosting exports to generate foreign exchange for the country, according to a press release. Bakhtawari also welcomed the government’s commitment to launching a pilot project in the region, which will align gemstone mining, cutting, and value addition with international standards.

He highlighted that the ICCI is focused on promoting economic activities in the country by improving the ease of doing business and unlocking its vast tourism potential. He emphasized the importance of leveraging Pakistan''s significant gemstone reserves, particularly in the northern and north-western regions, which are rich in high-quality stones such as peridot, aquamarine, topaz, ruby, and emerald. However, he pointed out that 80% of Pakistan’s gemstone exports are in raw form. This underscores the need for internationally recognised certifi­cations to enhance the ind­ustry’s development, boo­st national exports,

and create more employment opportunities.