Govt Approves National Gemstone Policy to Boost $450 Billion Industry

The federal government has approved the National Gemstone Policy 2026-2030, to formalize and boost exports and unlock an estimated $450 billion worth of precious and semi-precious mineral resources.

The policy, approved by the Economic Coordination Committee (ECC), seeks to transform a sector where more than 95 percent of trade currently takes place through informal channels, resulting in low exports, weak regulation and significant foreign exchange losses.

According to the Ministry of Industries and Production, Pakistan possesses some of the world’s largest deposits of gemstones but officially exports only $5 million to $7 million worth annually, representing just 0.3 percent of global gemstone trade.

The policy aims to increase annual gemstone exports 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 statutory National Gemstone Authority by merging the Pakistan Gems and Jewellery Development Company with its staff and assets. The new authority will regulate the sector, maintain a national business registry, oversee certification and traceability systems, facilitate trade and implement the policy.

To improve export credibility, the government also plans to establish a National Warranty Office responsible for inspecting, valuing, certifying and sealing gemstone export consignments. 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 Pakistan specific Harmonized System (HS) codes to discourage under invoicing and improve trade documentation.

A National Gemstone Business Registry will also be created to link traders with customs, banking and certification systems.

To modernize the industry, the policy proposes 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.

The government also plans to launch a unified Pakistani Gemstone brand supported by international certification, global marketing campaigns and participation in overseas trade exhibitions to improve the country’s position in international markets.

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.