Meeting on National Gemstones Policy
Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan, met with Mr. Barneby Plowright, a prominent gemstones exporter, in Islamabad on Friday. The meeting aimed to discuss the formulation of the upcoming National Gemstones Policy. Both parties engaged in detailed discussions on how to enhance Pakistan’s gemstone sector through policy reforms, formalization, and international collaboration.
During the meeting, Haroon Akhtar Khan visited Barneby’s gemstone setup in Islamabad. There, he was given a comprehensive briefing on the entire process of diamond polishing, grading, and packaging. This visit provided him with valuable insights into the current operations and challenges faced by the industry.
Key Objectives of the New Policy
Haroon Akhtar Khan emphasized that the National Gemstones Policy is being formulated under the special directives of Prime Minister Shehbaz Sharif. The primary goal of this policy is to facilitate exporters and manufacturers of gemstones. He highlighted that under the new policy, gemstones exporters will be granted the status of an industry. This move is expected to help in documenting and regulating a largely informal sector, which is currently estimated to have around $2 billion in undocumented trade.
The policy also aims to bring the gemstone industry into the formal economy, enabling Pakistan to generate billions of dollars in revenue. The development of the policy is expected to be completed within one month, taking into account international best practices and successful global models.
Pakistan’s Mineral Wealth
Highlighting Pakistan’s rich mineral wealth, Haroon Akhtar Khan noted that the country is blessed with some of the world’s finest quality gemstones. He expressed his appreciation for Mr. Barneby Plowright and his team for their technical expertise, innovation, and contributions to gemstone processing in Pakistan.
Future Prospects
The proposed National Gemstones Policy is expected to create a more structured and transparent environment for the gemstone industry. By formalizing operations and encouraging international collaboration, Pakistan can position itself as a key player in the global gemstone market.
The initiative aligns with broader economic goals of increasing exports, attracting foreign investment, and promoting sustainable growth in the sector. With the right policies and support, the gemstone industry has the potential to significantly contribute to Pakistan’s economy.
Conclusion
The meeting between Haroon Akhtar Khan and Mr. Barneby Plowright marks an important step towards developing a robust national policy for the gemstone sector. By focusing on reform, formalization, and international cooperation, Pakistan is taking proactive measures to harness its natural resources effectively.