Prime Minister Shehbaz Sharif has given in-principle approval to Pakistan’s first national policy framework for gemstones and precious stones, aiming to unlock an estimated $450 billion worth of gemstone reserves and significantly boost exports.
The decision was taken during a high-level meeting chaired by the prime minister, according to an official statement from the Prime Minister’s Office. The new framework seeks to reform the gemstones sector, align it with international standards, and increase annual exports to $1 billion within five years.
Pakistan is home to vast but largely untapped reserves of emeralds, rubies, sapphires, peridot, and topaz. Despite this natural wealth, formal gemstone exports remain extremely low—around $5.8 million per year—due to poor certification systems, limited local processing, smuggling, and fragmented regulations.
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The government’s move comes as Pakistan intensifies efforts to monetize its mineral resources amid fiscal challenges and ongoing reforms under an IMF-backed program. Over the past two years, Pakistan has hosted international mineral investment conferences and signed cooperation agreements with countries including the United States, Saudi Arabia, and China to improve governance, attract foreign investment, and modernize mining and mineral processing.
According to the PM’s Office, the approved framework will help establish proper certification, value addition, and transparent regulation, allowing Pakistan to fully benefit from its gemstone wealth while creating jobs and increasing foreign exchange earnings.
The initiative marks a major step toward transforming Pakistan’s mineral sector into a structured, export-driven industry.
