The government has set a target to increase gemstone exports to one billion dollars within five years.
According to details surfaced on Tuesday, a new government strategy aims to place mineral resources at the centre of economic development. An article published in The National Interest has outlined Pakistan’s mineral sector reforms in detail.
The magazine wrote that Pakistan holds mineral resources worth trillions of dollars and is aligning its mining sector with international standards through a series of reforms. Global investors are being attracted through the Minerals Investment Forum.
According to The National Interest, Reko Diq ranks among the world’s major copper and gold projects, with estimated reserves of 5.9 billion tonnes. Pakistan’s total gemstone reserves are valued at around $450 billion.
The report said the government has introduced the country’s first National Gemstone Policy. Mining reforms are expected to open new avenues for technology transfer and industrial growth. The government has set a five-year target to raise gemstone exports to one billion dollars.
The publication added that Pakistan has the potential to join global supply chains for lithium, cobalt and rare earth elements. Experts said growth in the mining and gemstone sectors could add up to $7.5 billion annually to GDP over the next 10 years and create thousands of direct and indirect jobs.
