KARACHI - Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi said that Pakistan has immense potential for export of value-added products of gems and jewellery and can earn billion of dollars of foreign exchange through its sale in the international market.

The Minister attended the presentation on the Pakistan Gems and Jewellery Development Company here on Friday.

On the issue of shortage of staff at various centers of the Gems and Jewellery, the minister assured that the matter will be taken up with the Prime Minister for filling up of the vacant post of the company. The Minister also assured CEO of the Company he will take up the matter of release of funds in the ECC meeting.

The Minister further stated that government wants that all organisations should become self-reliance and they should not be dependent on government.

Bakhtiar Khan, CEO gave a detailed presentation to the Minister about the working and the progress of the Company. He informed the Minister that the size of Pakistan’s Jewellery market was about $12.5 billion whereas the annual consumption of gold in Pakistan was around 170 tons.

While briefing the Minister about the aim and objective of setting of this Company, the CEO stated that its main objective was to raise the value chain productivity from mine to the market and to the end users.

About the targets, the CEO informed that the company had set up a target of achieving the export to $1.50 billion by 2017. He further stated that the Company has so far set up centers of gems and jewellery in 12 cities of Pakistan.

Bakhtiar informed the Minister that in the current year gems and jewellery worth $1.18 billion were exported which was the second largest export of Pakistan. The meeting was also attended by Khalid M. Chadda, CEO, PIDC and Mrs. Semeen Siddiqi, member of the Company.