The Parliamentary committee held a meeting on Friday. Moreover, the committee was briefed on Pakistan’s loss of $5 billion, brought by Gemstone smuggling.
Atif Khan headed the committee. Moreover, a member of the committee, Gul Asghar cited the country’s potential in the gemstone trade. However, there had only been a maximum trade worth $1.4 billion. Additionally, a large chunk is smuggled to Thailand. In particular, dissent was shown over Pakistan’s poor performance in recent trade, which was only worth $8 million.
It is pertinent to note that Pakistan has developed a new Gemstone and Jewelry Facilitation Wing. So, as to assist in gemstone export in Pakistan.
Upon diving in depth into the crisis, it was further revealed that 30-40, % of gemstones originated from Afghanistan, passing through Pakistan. Therefore, emphasis was laid on opening the Afghan border to manifest the profit from the flow.
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In comparative analysis Asghar compared the Indian gemstone industry. Asghar stated that the industry stood at $ 45 million with only 5 million laborers employed. As a result of, he further reinforced the development of regulatory authority in Pakistan.
While mentioning the worth of Pakistani gemstones Atif noted that a single Pakistani Rubi is sold for $18 million in India.
Highlighting the importance, of China’s interest in Pakistan semi-metal was discussed. Reviewing it, revealed Pakistan’s worth in $1.5 million/ ton.
