Pakistan's losses from precious stone smuggling have exceeded $5 billion, according to Gul Asghar Khan, a member of the National Assembly’s subcommittee on commerce, who announced this data at a meeting of the lower house of parliament.
According to him, Pakistan is among the eight largest producers of precious stones in the world. However, the total official volume of precious stones exported from Pakistan is only $8 million. "The stones are smuggled to Thailand, which earns billions of dollars after cutting and polishing them," he noted.
The parliamentarian considers it appropriate to open the border with Afghanistan for trade in precious stones. In addition, according to him, 5 million people in India are involved in jewelry industry and cutting&polishing sector. India, he noted, exported precious stones worth $45 billion.
Pakistan is confident that the creation of relevant institutions in the country could help control the entire production chain. Meanwhile, back in 2006, the Gem and Jewellery Authority of Pakistan was established with five centres, but they have not yet started operating.
In May, Prime Minister Shahbaz Sharif called for an action plan to develop the gemstone industry and boost investment. He said most parts of the country, especially Khyber Pakhtunkhwa, Gilgit-Baltistan, Azad Jammu and Kashmir, have vast natural resources that need to be properly exploited. He said there is a need to work towards international certification of gemstones and jewelry to ensure Pakistan’s representation at international exhibitions.
Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished
