Federal Minister for Industries and Production, Ghulam Murtaza Khan Jatoi, has said that Pakistan has immense potential for export of value-added products of gems and jewellery and can earn foreign exchange through its sale in the international market. A statement said that he attended a presentation on the Pakistan Gems and Jewellery Development Company here on Friday.
On the issue of shortage of staff at various centres of Gems and Jewellery Company, the Minister assured that the matter will be taken up with the higher authorities for filling up of the vacant posts of the Company. The Minister also assured CEO of the Company that he will take up the matter of release of funds in the ECC meeting.
He further stated that the government wants that all organisations should become self-reliant and they should not be dependent on government. Chief Executive Officer, Bakhtiar Khan, gave a detailed presentation to the Minister about the working and the progress of the Company. He informed that the size of Pakistan's jewellery market was about US $12.5 billion whereas the annual consumption of gold in Pakistan was around 170 tons.
He further stated that more than fifty thousand workers were engaged in 90 thousand enterprises of various sectors of the gems and jewellery. While briefing the Minister about the aim and objectives of setting of this Company, the CEO stated that its main purpose 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 up to US dollars 1.50 billion by 2017. He further stated that the Company has so far set up centres 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.
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