Pakistan, China to boost gems and jewelry industry
Karachi: Pakistan and China agree to enhance cooperation to boost the gems and jewelry industry.
The consensus was made at a meeting here between the Chinese Consul General to Pakistan in Karachi Li Bijian and the Chairman of Pakistan Gems and jewelry Development Company (PGJDC) Shahid iqbal Qureshi this week.
According to an official statement, Chinese investment may be brought in for setting up lapidaries and special industrial parks for cutting, polishing, faceting and carving of gemstones.
The Chinese government may also invest in the extraction of gemstones as most of the gemstones get wasted due to indiscriminate blasting which can be reduced if modern mining machinery was used for extraction.
CPEC and Gwadar port will also play a very important role in the enhancement of trade and exports of gemstones if the gems and jewelry special industrial parks and individual lapidary units are established along the CPEC route, it added.
During the meeting, the two sides also discussed the possibility of collaboration in skills development.
At present, Pakistan ranks fifth in the world with regards to gemstone reserves and high-quality emeralds, ruby, sapphire, aquamarine, peridot, topaz, and tourmaline. These gemstone treasures are highly sought around the globe and there is dire need to exploit this potential for export growth.