The federal government has approved the National Gemstone Policy 2026-2030, a sweeping plan to formalize the country’s largely undocumented gemstone trade and unlock an estimated $450 billion worth of precious and semi-precious mineral resources.
The policy, cleared by the Economic Coordination Committee (ECC), takes aim at a sector where more than 95 percent of trade currently flows through informal channels, resulting in negligible exports, weak regulation, and significant foreign exchange losses.
According to the Ministry of Industries and Production, the country possesses some of the world’s largest deposits of gemstones yet officially exports only $5 million to $7 million worth annually, a mere 0.3 percent of the global gemstone trade.
The policy sets an ambitious target of pushing annual gemstone exports to roughly $500 million by 2030 through formalization, value addition, international certification, and improved market access.
A centerpiece of the policy is the creation of a statutory National Gemstone Authority, to be formed by merging the existing Pakistan Gems and Jewellery Development Company along with its staff and assets. The new authority will regulate the sector, maintain a national business registry, oversee certification and traceability systems, facilitate trade, and drive implementation of the policy.
To bolster export credibility, the government also plans to establish a National Warranty Office responsible for inspecting, valuing, certifying, and sealing gemstone export consignments. The office will coordinate with Pakistan Customs, Pakistan Single Window, banks, and courier companies to streamline exports and reduce disputes.
The policy introduces minimum export price benchmarks and Pakistan-specific Harmonized System (HS) codes to discourage under-invoicing and improve trade documentation. A National Gemstone Business Registry will also be created to link traders with customs, banking, and certification systems.
To bring the sector up to international standards, the policy proposes machinery rental pools, demonstration mines, expanded cutting and polishing facilities, skills development programs, easier access to mining equipment, and controlled access to explosives for licensed miners. It also encourages imports of rough gemstones and modern processing equipment to increase domestic value addition.
The government plans to launch a unified Pakistani Gemstone brand backed by international certification, global marketing campaigns, and participation in overseas trade exhibitions to improve the country’s standing in international markets.
Implementation will be overseen by a steering committee headed by the Minister for Industries and Production. The proposed authority is expected to become financially self-sustaining over time through service charges and regulatory fees.
