ISLAMABAD, Oct 16: Prime Minister Shaukat Aziz on Monday approved a proposal for conducting geological survey for gem deposits in various parts of the country to quantify the existing deposits and identify potential mining locations.

Chairing a meeting at the Prime Minister’s House to review the gems and jewellery sector development strategy, the premier said the government was working to establish Pakistan as high value-added, internationally competitive, world-class hub for precious stone cutting and jewellery manufacturing.

The government is targeting to double exports of gems and jewellery within a period of one year and increase the volume of export to $500 million in a period of five years from the existing $25 million.

Mr Aziz said Pakistan had high potential in the gems and jewellery sector because of availability of natural resources of precious and semi-precious gemstones, skilled craftsmen, strong domestic market demand and low cost of labour.

He said the Pakistan Gems and Jewellery Development Centre had been established to make efforts to increase the export of gems and jewellery.

The prime minister said the ministry of industries and production should focus on conducting market and industry surveys on regular basis to develop Pakistan brand and roadmap for international recognition. They should improve their marketing skills to establish Pakistani products as a brand in the world market, he added.

Mr Aziz also emphasised the need to promote research and innovation to diversify product base and establish quality standards and mechanisms for implementation.

Industries and Production Minister Jehangir Khan Tareen made a presentation about the significance of gems and jewellery industry and government's strategy to enhance exports and introduce value-addition in the existing products.

Mr Tareen said the government would establish gem testing and certification labs at gem trade hubs of Giligit, Quetta, Peshawar and Karachi. He said the training facility and manufacturing centres to upgrade technology and processes would be set up in Karachi, Lahore, Peshawar, Quetta and Northern Areas.