The federal cabinet has approved the establishment of the “Pakistan Gems and Jewellery Export Promotion Authority”, the draft would be presented before the Parliament for final approval.
The objective of establishing the authority is to develop, regulate and promote the gems and Jewellery industry and to establish the gems and jewellery city/park/exchange to develop this important sector.
While talking to the President of Gold and Gems Art Promotion Council of Pakistan (GGAPCP) and Lahore Division Sarafa and jewelers Association, Muhammad Ahmad, Engr. Gul Asghar Khan, Prime Minister’s Task Force Chairman for Gems and Jewelry congratulated the jeweler community on the historic step, taken the Prime Minister, Imran Khan, and his government for promoting the export of gems and jewelry.
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Gul Asghar on the great achievement and expressed the hope that the measure would be a source to resolve the issues which are being faced by the jeweler community. He said that Pakistan would be soon among jewelry export countries. President, GGAPC requested the PM’s task Force Chairman for Gems and jewelry to abolish the SRO 760 immediately as this SRO could become a hindrance in the way of the success of this authority.
He added that the genuine leadership of the jewelry community should be made the part of the Board of authority. Muhammad Ahmad assured Engr. Gul Asghar of the full support of his organization for the success of this authority.
This is worth mentioning that in 2006, the Pakistan Gems Jewelry Development Company (PGJDC) was established as a subsidiary of Pakistan Industrial Development Corporation (PIDC) which is working under the Ministry of Industries and Production.
The objectives of PGJDC were almost the same as having been fixed for the newly established authority. Pakistan is among those few countries of the world which have an abundance of precious metals and stones but it does not have its due share in the International market.