Key Takeaways
- The federal government has approved the National Gemstone Policy 2026-2030.
- A statutory National Gemstone Authority will be established to regulate the sector.
- The policy aims to increase annual gemstone exports to $500 million by 2030.
The federal government has approved a new National Gemstone Policy aimed at formalizing and boosting Pakistan's gemstone industry, which is estimated to be worth $450 billion. The policy, endorsed by the Economic Coordination Committee (ECC), seeks to transform an industry where over 95 percent of trade currently takes place through informal channels.
According to the Ministry of Industries and Production, Pakistan holds some of the world's largest gemstone deposits but only exports $5 million to $7 million worth annually. The policy aims to increase this figure to around $500 million by 2030 through formalization, value addition, international certification, and improved market access.
A key feature of the policy is the establishment of a National Gemstone Authority, which will merge with the Pakistan Gems and Jewellery Development Company. This new authority will regulate the sector, maintain a national business registry, oversee certification and traceability systems, facilitate trade, and implement the policy. The government also plans to establish a National Warranty Office responsible for inspecting, valuing, certifying, and sealing gemstone export consignments.
To improve export credibility, the office will work with Pakistan Customs, Pakistan Single Window, banks, and courier companies to streamline exports and reduce disputes. The policy introduces minimum export price benchmarks and specific Harmonized System (HS) codes to discourage under invoicing and enhance trade documentation. A National Gemstone Business Registry will be created to link traders with customs, banking, and certification systems.
The government plans to modernize the industry by proposing 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.
To improve Pakistan's position in international markets, the government intends to launch a unified Pakistani Gemstone brand supported by international certification, global marketing campaigns, and participation in overseas trade exhibitions. Implementation will be overseen by a steering committee headed by the Minister for Industries and Production, while the proposed authority is expected 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 final policy has now been endorsed with broad support from relevant ministries and public sector institutions.
