Govt plans $1bn gemstone export target within five years

ISLAMABAD – The government of Pakistan has set a target to increase gemstone exports to one billion dollars within five years. The plan is part of a broader strategy to strengthen the mining sector and economic growth.

According to reports on Tuesday, the government’s new strategy focuses on placing mineral resources at the center of Pakistan’s economic development. The National Interest magazine detailed the ongoing reforms in the sector.

The publication highlighted that Pakistan holds mineral resources worth trillions of dollars. The government is aligning its mining sector with international standards through comprehensive reforms. Investors are being attracted via the Minerals Investment Forum.

Reko Diq is among the world’s largest copper and gold projects, with estimated reserves of 5.9 billion tonnes. Meanwhile, Pakistan’s gemstone reserves are valued at roughly $450 billion.

Read more : Pakistan’s Gold Market Faces Reforms Amid Smuggling

The report stated that Pakistan has introduced its first National Gemstone Policy. The reforms aim to encourage technology transfer, industrial growth, and more investment opportunities.

Experts said Pakistan could join global supply chains for lithium, cobalt, and rare earth elements. These sectors have high potential for economic contribution and industrial expansion.

Growth in the mining and gemstone sectors could add up to $7.5 billion annually to the country’s GDP over the next decade. Additionally, thousands of direct and indirect jobs are expected to be created.