Islamabad: China-Pakistan Economic Corridor (CPEC) Authority and Pakistan Gems and Jewellery Development Company (PGJDC) have agreed to collaborate for the development and uplift of the gems and jewellery sector by pooling up their resources ultimately benefitting the country.
A meeting was held here between Chairman CPEC Authority Lt. General Asim Saleem Bajwa (retd) and the Chairman PGJDC, Shahid Iqbal Qureshi. Both sides discussed the objectives and scope of operations of the Company, said an official statement.
Chairman PGJDC emphasized chalk out possibilities of mutual collaboration between the two organizations for the uplift of this sector. He shed light upon the Gemstone potential of the Country and submitted that Pakistan ranks 5th in the world with regards to gemstone reserves.
Qureshi also mentioned that high-quality Emerald, Ruby, Sapphire, Aquamarine, Peridot, Topaz, Tourmaline and others were abundantly found in the mountainous regions of the country.
Balochistan is also rich in semi-precious and precious gemstones which are unique to this area. These gemstone treasures are highly sought after around the globe and there is a dire need to exploit this potential for export growth, he added.
Qureshi suggested various avenues in which the CPEC Authority and PGJDC could join hands and work together to make full use of the China-Pakistan Economic Corridor (CPEC) and lure foreign direct investment into this sector.
Gems and Jewellery Special Industrial Parks (SIPs) and Gemstone City can be set up along the CPEC route where Gemstone and Jewellery clusters could be developed. Gemstone Lapidary units, jewellery designing and manufacturing units, Gold refining units, and quality assurance labs will be set up in these SIPs.
“These SIPs can also provide one window facilitation to the sector stakeholders. Separate Lapidary Units offering facilities of Gemstone processing can also be set up along CPEC throughout the Country which will promote export of value-added products,” he said.
PGJDC is an autonomous body of the Ministry of Industries and Production Government of Pakistan and works for the development of the Gems and Jewellery Sector of the Country to enhance its competitiveness throughout the entire value chain.
Chairman CPEC Authority said that as the incumbent government had a strong focus on the development of the Gems and Jewellery sector, strengthening of operations of PGJDC was very important. He pledged to support the PGJDC initiatives.