PM Shehbaz Approves $450 Billion Gemstone Mining Plan to Boost Pakistan’s Mining Sector

Prime Minister Muhammad Shehbaz Sharif has approved a comprehensive National Policy Framework aimed at unlocking the potential of Pakistan’s gemstone sector and boosting exports by an estimated $450 billion. Highlighting the untapped wealth, he noted that Pakistan’s gemstone reserves are valued at $450 billion, while annual exports currently stand at just $5.8 million. Under the new policy, the government has set a target to increase gemstone exports to $1 billion within the next five years.

To achieve this, the prime minister directed the establishment of Centres of Excellence this year to train skilled professionals in gemstone extraction, processing, and valuation. He also called for the creation of internationally accredited testing laboratories, along with a formal certification and warranty system to ensure product quality and credibility in global markets. The policy emphasizes shifting trade from illegal smuggling channels to fully documented and legal exports, thereby generating substantial foreign exchange inflows.

Additionally, Prime Minister Shehbaz Sharif instructed geological surveys to map the location, quality, and value of Pakistan’s gemstone deposits, including emeralds, rubies, peridot, topaz, and aquamarine. The Ministry of Finance has been tasked with immediately releasing the necessary funds to implement these initiatives, reflecting a strategic effort to modernize the sector and maximize its contribution to Pakistan’s economy.