Islamabad: In a concerted effort to bolster Pakistan’s gems and jewelry sector, Federal Minister for Commerce Jam Kamal Khan has voiced strong support for comprehensive reforms aimed at enhancing the industry’s export capabilities. During a virtual meeting with the Sectoral Council for Gems and Jewelry, Minister Khan detailed the government’s strategy to transform this high-potential sector into a key pillar of the national economy.
According to Press Information Department, the meeting assembled top officials from both the public and private sectors, emphasizing collaborative efforts to address regulatory barriers and streamline policies in line with Prime Minister Shehbaz Sharif’s directives. The Prime Minister has shown an active interest in this sector, personally overseeing several strategic discussions in recent months to propel the industry forward.
Minister Khan stressed the importance of incorporating private sector feedback into policy development, ensuring that the resultant strategies effectively address on-ground challenges and foster sector growth. The Chairman of the Council, Salman Hanif, highlighted the need for significant regulatory changes, particularly advocating for the amendment of SRO 760 to facilitate easier market access and enhance operational efficiencies within the industry.
The discussions focused on creating a detailed, inclusive strategy covering the entire value chain from mining to market. This plan aims to not only improve domestic operations but also position Pakistan’s gems and jewelry market competitively on a global scale. Minister Khan reassured stakeholders of the government’s dedication to making informed, effective policy decisions based on comprehensive private sector input.
Further, Minister Khan addressed the need for banking reforms to support the sector’s growth and requested the council to submit a detailed roadmap and actionable plan within a week. This proposal is intended to be ready for review at the next meeting with the Prime Minister, aiming to expedite the implementation of necessary reforms.
The proactive approach by the Ministry of Commerce, under Minister Khan’s guidance, signals a promising shift towards significant economic opportunities for Pakistan’s gems and jewelry industry, potentially leading to increased employment and export revenues.