Thursday, June 1, 2023

PM Imran Khan turns minerals, gems industry into export business

In a statement, Prime Minister Imran Khan stated that the government was transforming traditional techniques in the minerals and gems sector by introducing the most up-to-date technology, and that for the first time in the country’s history (74 years), this sector was being restructured into an export industry.

The prime minister was in town to preside over a meeting of the task group on gems, jewellery, and minerals. Makhdoom Khusru Bakhtiar, Minister for Industries, Dr Shabaz Gill, Special Assistant to the Prime Minister, Engineer Gul Asghar Khan, Atif Khan, and other members of the Gems and Jewelry Task Force, as well as representatives from the appropriate authorities, were in attendance at the meeting.

The prime minister was informed of the reorganisation of the gems, jewellery, and minerals industry, as well as of the suggestions for the planned mineral city, among other things. It was revealed during the conference that Pakistan has the potential to export rare stones worth $5 billion dollars per year, which would have a beneficial impact on the country’s economy while also creating a large number of job possibilities.

According to the report, about 99 distinct precious stones deposits have been discovered in Pakistan, making it the eighth largest nation in the world in terms of output. Furthermore, according to estimates, Pakistan had a gold consumption of 200 tonnes, and with efficient laws and improved arrangements, this sector might be transformed into one of the country’s most important industries, if not the largest.

Furthermore, a gems and jewellery city would be created in order to consolidate all resources in one location, to guarantee that problems are resolved via a single point of contact, and to provide amenities to investors.

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