ISLAMABAD, Jul 29 (APP): Special Assistant to the Prime Minister (SAPM) on Industries and Production Haroon Akhtar Khan Tuesday held an important meeting with a renowned French manufacturer of gems and jewellery Barneby Plowright and discussed the potential and challenges in Pakistan’s gems and jewellery export sector.
During the meeting, key issues such as export documentation, value addition, and international market access were discussed in detail, said a news release.
Haroon emphasized that Pakistan is among the top producers of high-quality gemstones in the world. However, he lamented that formal exports remain limited to only a few million dollars annually.
“Pakistan has gemstone reserves worth billions of dollars, yet nearly $2 billion worth of gold is exported through undocumented channels each year,” the SAPM said.
He noted that this lack of documentation poses serious challenges for genuine investors and leads to substantial losses for the national exchequer.
Highlighting the scale of the issue, Haroon said, “The illegal trade in gems and jewellery is causing billions of dollars in annual losses to the national treasury.”
He further stressed the urgent need for regulatory reforms and documentation of gold exports. “Proper documentation of gold exports is essential to ensure transparency, attract investment, and support legal trade,” he said.
Haroon also announced that the government is considering policy measures to encourage legal and value-added exports of gold and gemstones.
He directed for an immediate meeting to be convened with stakeholders from the gems and jewellery sector to chart a way forward.