All Pakistan Gem Merchants and Jeweller's Association (APGMJA) has suggested that the import of raw platinum, raw palladium, cut diamonds, and gemstones may be allowed for jewellery manufacturers at one to two percent import duty and nil sales tax.
Akhtar Khan, Chairman APGMJA in budget proposals sent to Chairman Central Board of Revenue (CBR) said that the import of raw platinum, raw palladium, cut diamonds and gemstones be allowed.
The chairman noted that majority of jewellery export is on self-consignment basis and being a non standard product and rapid fashion and design change, importers do not place confirmed orders. Goods quality gemstones are not readily available in local market and pleaded for opening up import policy.
The chairman further noted that platinum jewellery presents good potential for export. He demanded arrangement for international transportation of gold jewellery and gemstones samples through courier services.
Chairman APGMJA proposed the provision of export refinance under Islamic mode, without confirm orders and on soft collateral terms. Issuance of temporary import certificate valid for one year (ATA Carnet) may be allowed.
Establishment of gemmological laboratory for certification of gemstones was also proposed. In this regard he advised that collaborations should be sought with laboratory of gemmological institute of America.
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