PM Shehbaz Sharif Demands Urgent Action on Gemstone Sector Delays

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday expressed his dissatisfaction with the ongoing delays in the pilot project for the gemstones and jewellery sector, emphasizing the urgent need for progress in developing this vital industry.

During a high-level meeting, the Prime Minister directed relevant authorities to prepare and submit a time-bound action plan on a priority basis. “Developing the gemstones and jewellery sector is a priority, and no delays will be tolerated,” he stated, calling for the establishment of a comprehensive ecosystem for value addition through gemstone mining, cutting, and polishing.

Sharif highlighted the significant economic losses Pakistan incurs annually, amounting to billions of dollars, due to substandard mining practices and the smuggling of precious stones. He urged the development of a “Brand Pakistan” initiative for gemstones and jewellery, taking inspiration from successful models in other countries in the region.

Additionally, the Prime Minister instructed authorities to formulate a plan for establishing centres of excellence to promote value addition in the sector. The meeting also addressed the need for banks to expedite housing loans and support for small and medium enterprises (SMEs) and farmers, indicating a broader strategy to enhance economic growth.