Gemstones industry to earn $ 32 billion annual revenue in exports: Chairman

gemstone

Federation Pakistan Chamber of Commerce and Industry (FPCCI) Chairman Qurban Ali on Tuesday said that Pakistan has an export potential of worth $ 32 billion annually in potential gemstones industry to earn revenue for strengthening the country’s economy.
Local exporters of gemstones must go for innovation and also add the modern technology to enhance the value of precious and semi-precious stones for the international competitive market to earn more profits, Chairman FPCCI, Qurban Ali said this while addressing the ceremony as
chief guest along with senior business leaders and Ex. President FPCCI, Senator Haji Ghulam Ali besides the exhibition organized by All Pakistan Commercial Exporters Association (APCEA), said FPCCI.
While the senior leadership of APCEA, along with the Pattern In chiefof the exporters association Mamoor Khan, Chief organized of gems andstones exhibition Syed Minhajuddin and other leaders also participatedin the event.
While on the occasion, Qurban said that Pakistan is home of Preciousand semi precious stones and for utilizing this potential, “We need to establish the technology and innovation driven industry to attract thein foreign investors from European Union (EU) and United States of
America (USA).He was of the view that ‘Gem Testing Labs’ need to be established for
gems identification to promote the local industry at international potential market for enhancing the competitiveness in the local market.
The senior business leaders said that FPCCI would onboard the government for the initiative of new gems testing laboratories in major cities of Pakistan to promote the gemstone trade for enhancing the local exports.
Qurban Ali said that mainly these precious stones are explored from almost inaccessible territories of the hilly regions in the South and North as the most extensive ruby deposits in Pakistan are located in the Hunza valley of the Gilgit Baltistan.
He informed that after Burma, Hunza is the only other region in the world that has produced “Blood Red ruby”.Chairman FPCCI said that some of the finest ‘Emeralds’ in the World
are being mined in the picturesque valley of Swat and AQUAMARINE also explored from the Shigar valley of Baltistan, Chitral, Kaghan and in the Neelam Valley of Azad Kashmir.
He said that ‘Flurite’ is found in Chitral, Dir, Hunza, and Balochistan with the largest deposits occurring in the Northern part of the Koh-e-Marden range of Kalat. He further said that Pakistan is a country of young people and they need employment opportunities and through the gems and stones industry, “we can create a huge opportunity of employment for local youth of GB region including Khyber Pakhtunkhwa and Balochistan.
He said that FPCCI is a big platform for you, “We offer you every kind of support to get help from the federal and provincial government for promoting this potential export sector.”
While addressing the gathering, senior business leader of FPCCI Haji Ghulam Ali said that the gems and stones industry has faced big challenges in different areas including the public and private sphere. Pakistan has a big opportunity to in crease the country’s exports through this potential sector to achieve the agenda of economic growth and prosperity. The senior business community leader said that technology plays a huge role in promotion of any industry and gems and stones industry facing big challenges at technological from to present their items in potential markets like EU and Americas.
He said that for this purpose, Pakistan Gems and Jewelry Development Company is working in Lahore, Karachi, Peshawar, Quetta ,Gilgit, Muzaffarabad and Sargodha cities where the major share of gemstone trade exists.
There is a need to establish more modern laboratories in different cities for value addition and innovation in this industry. He said that technological intervention through the modern ways and
means to promote this potential industry at international level. He vowed to support the gems and stones industry at any forum and also urged the Trade Development Authority of Pakistan to provide their financial assistance to this industry.
Patten In chief the exporters association, Mamoor Khan highlighted the different issues and challenges facing by the organization at different levels and demanded to resolve these issues.