Web Desk: Federal government has approved the National Gemstone Policy 2026-2030, unveiling a broad reform agenda aimed at formalising the largely undocumented gemstone sector, boosting exports and unlocking the commercial potential of an estimated $450 billion in precious and semi-precious mineral resources.
The Economic Coordination Committee (ECC) cleared the policy, which seeks to transform an industry where more than 95% of transactions currently take place through informal channels. Officials say the lack of regulation has constrained exports, weakened oversight and contributed to significant foreign exchange losses.
According to the Ministry of Industries and Production, Pakistan is home to some of the world’s richest gemstone deposits. However, official annual exports remain between $5 million and $7 million, accounting for only about 0.3% of global gemstone trade.
The government now aims to raise annual exports to approximately $500 million by 2030 by promoting value-added processing, internationally recognized certification systems, greater market access and the formal registration of businesses operating in the sector.
As part of the reforms, the government will establish a statutory National Gemstone Authority by integrating the Pakistan Gems and Jewellery Development Company into the new institution, including its staff and assets.
The authority will regulate the gemstone industry, maintain a national business registry, supervise certification and traceability mechanisms, facilitate trade and oversee implementation of the new policy.
In addition, authorities plan to establish a National Warranty Office to inspect, assess, certify and seal gemstone export consignments before shipment.
The office will coordinate with Pakistan Customs, the Pakistan Single Window system, financial institutions and courier services to simplify export procedures and reduce commercial disputes.
The policy also introduces minimum export price benchmarks and Pakistan-specific Harmonized System (HS) codes to discourage under-invoicing and improve trade documentation.
Meanwhile, a National Gemstone Business Registry will connect traders with customs authorities, banks and certification agencies, creating a more transparent and traceable supply chain.
To modernize the industry, the government plans to expand cutting and polishing facilities, establish machinery rental pools and demonstration mines, and introduce skills development programs for workers.
The policy also proposes easier access to mining equipment and regulated access to explosives for licensed miners. Furthermore, it encourages imports of rough gemstones and modern processing machinery to increase domestic value addition before export.
The government intends to launch a unified Pakistani gemstone brand supported by international certification standards, global marketing campaigns and participation in overseas trade exhibitions to strengthen the country’s presence in international markets.
Implementation of the policy will be supervised by a steering committee chaired by the Minister for Industries and Production. Officials expect the proposed National Gemstone Authority to become financially self-sustaining over time through service charges and regulatory fees.
The National Gemstone Policy was initially approved in principle by Prime Minister Shehbaz Sharif in January 2026. Following consultations with federal and provincial governments, regulators, financial institutions and industry stakeholders, the government has now finalized and endorsed the policy with broad institutional support.
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