In a recent revelation, it has been disclosed that gemstones worth $5 billion are being smuggled out of Pakistan annually. This alarming situation was discussed during a meeting of the National Assembly’s Subcommittee on Commerce, chaired by Atif Khan.

The meeting highlighted the inactivity of the country’s Gemstone Authority and its centers, which have never been operational. In response, the federal government has decided to establish a Gems and Jewelry Facilitation Wing to address these challenges.

Committee member Gul Asghar Khan pointed out that Pakistan is among the world’s top eight producers of gemstones, yet the country’s total gemstone exports amount to only $8 million. He noted that Pakistani gemstones are often smuggled to Thailand, where they are cut and polished, generating significant revenue.

Atif Khan revealed that 30 to 40 percent of these gemstones originate from Afghanistan, suggesting that the Afghan border should be opened for gemstone trade. He also emphasized the need for institutions to be established under an Act of Parliament to regulate the industry effectively.

Gul Asghar highlighted the potential of Pakistan’s ruby stones, which are more valuable than Western diamonds, with one ruby fetching $18 million in India. He noted that regions like Swat, Gilgit, and Kashmir have substantial ruby deposits.

The meeting also discussed the global demand for industrial minerals, with China actively seeking these resources. Chairman Atif Khan mentioned that industrial minerals and antimony are valued at 1.5 million rupees per ton, underscoring the potential revenue from these resources.

The government aims to tackle the smuggling issue and boost the gemstone and mineral sectors, which could significantly contribute to the country’s economy.