Pakistan has potential for export of value-added gems, jewellery: Minister

KARACHI: Federal Minister for Industries and Production Ghulam Murtaza Jatoi Friday said that Pakistan has immense potential for export of value added products of gems and jewellery.

The Minister said the country can earn billion of dollars of Foreign Exchange through their sale in the international market. He said this after attending a presentation on Pakistan’s Gems and Jewellery, organised here by Pakistan Gems and Jewellery Development Company (PGJDC).

On the issue of shortage of staff at various centres of the Gems and Jewellery, the Minister assured that the matters related to the Company including release of funds and filling up of the vacant posts will be taken up with the concerned authorities.

He further stated that the Government wants that all organisations should become self-reliant and they should not be dependent on the government.

CEO of PGJDC, Bakhtiar Khan, gave a detailed presentation to the Minister about the working and the progress of the Company.

He informed the Minister that the size of Pakistan’s jewellery market was about $ 12.5 billion whereas the annual consumption of gold in Pakistan was around 170 tons.

He further stated that more than fifty thousand workers were engaged in 90000 enterprises of various sectors of the gems and jewellery.

While briefing the Minister about the aim and objectives of setting of this Company, the CEO stated that its main objective was to raise the value chain productivity from mine to the market and to the end users.

About the targets, he informed that the company had set a target of achieving the export of $ 1.50 billion by 2017 while the Company has so far set up centres of gems and jewellery in 12 cities.

Bakhtiar said that gems and jewellery worth $ 1.18 billion were exported during the current year which was the second largest export of Pakistan.

The meeting was attended by CEO, PIDC Khalid M. Chadda and Member of the Company Mrs Semeen Siddiqi among others.