PESHAWAR - A tripartite Memorandum of Understanding (MoU) between the University of Engineering and Technology (UET), Peshawar, and Pakistan Gems and Jewellery Development Company and FATA Development Programme-Livelihood Development was signed here on Thursday for establishment of FATA Gems and Jewellery Centre of Excellence. The ceremony was held at Governors House and was witnessed besides others by Governor Owais Ahmed Ghani and US Consul General Ms Candace Putnam. The project, costing Rs 50 million and funded by the USAID would help uplift the important FATA Gems and Jewellery Industry and create job opportunities for FATA people. It will also serve as a leading institution for gems and jewellery training and provide state of the art machinery to strengthen this vital part of FATA economy. Talking briefly on the occasion, Governor Owais Ahmed Ghani described the establishment of FATA Gems and Jewellery Centre of Excellence a landmark initiative towards FATA development, adding that the province and FATA had tremendous potential in the precious sector and hoped the centre would prove a great achievement in the efficient utilisation of natural resources for overall socio-economic development of the area.