Pakistan has the potential to increase its gemstone exports to $32 billion every year, claimed Chairman Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Qurban Ali.
He said gemstone exporters must go for innovation and adopt modern technology to improve the value of precious and semi-precious stones to enhance competitiveness in the international market.
He was of the view that the setting up of gem testing labs was the need of the hour to promote Pakistan’s industry in the international arena. He also said that the chamber would involve the government in initiating the construction of gem testing laboratories in major cities of Pakistan.
He pointed out that such precious stones were primarily found in the Hunza valley of Gilgit-Baltistan, in nearly inaccessible territories of hilly regions. After Burma, Hunza was the only other region in the world that had deposits of blood-red ruby, he said.
Further adding that some of the finest emeralds in the world were being mined in the picturesque valley of Swat.
“Pakistan is home to precious and semi-precious stones,” he said. Adding that to tap the complete potential, Pakistan needs to establish a technology and innovation-driven industry to attract foreign investors from the European Union and the United States.