Govt to boost gems sector with reforms, industry status

Published September 11, 2024
WORKERS prepare gemstones at a workshop in Peshawar.—AFP / file
WORKERS prepare gemstones at a workshop in Peshawar.—AFP / file

ISLAMABAD: The Pri­me Minister’s Steering Committee for Gemstones approved a series of refo­rms on Tuesday to revitalise the sector, with a key decision to bring the industry under the Ministry of Industries.

The meeting, chaired by Minister for Privatisation Abdul Aleem Khan, inclu­ded stakeholders such as federal ministers, secretaries, senior officials and private sector representatives. They discussed in detail the proposed reforms for the gemstone industry.

According to the sub-committee’s recommendations, the sector will be giv­en formal industry status once it is officially linked to the Ministry of Industries.

“We are moving forward with the cooperation and inte­grated efforts of both the government and the pri­v­ate sector to promote the gemstone industry,” Mr Khan said during the meeting.

He emphasised that linking gemstones with the Min­istry of Industries would lead to faster decision-making and implementation of initiatives that would not only develop the sector but also boost exp­orts and foreign exchange earnings. He stressed the significant potential of the gemstone sector in strengthening the country’s economy.

The steering committee’s chairman highlighted that the gemstone industry held substantial importance, and final approval on the reforms, as well as other related matters, would be sought from the prime minister.

The committee also discussed improving infrastructure and providing a better platform for the gemstone sector. This includes consultations with Federal Minister for Petroleum Mu­s­­adik Malik, Minister for Commerce Jam Kamal Khan and Minister for Indu­stries Rana Tanveer Hussain.

Published in Dawn, September 11th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Counterterrorism plan
Updated 23 Nov, 2024

Counterterrorism plan

Lacunae in our counterterrorism efforts need to be plugged quickly.
Bullish stock market
23 Nov, 2024

Bullish stock market

NORMALLY, stock markets rise gradually. In recent months, however, Pakistan’s stock market has soared to one ...
Political misstep
23 Nov, 2024

Political misstep

FORMER first lady Bushra Bibi’s video address to PTI followers has triggered a firestorm. Her assertion implying...
Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

An audit of polio funds at federal and provincial levels is sorely needed, with obstacles hindering eradication efforts targeted.
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...