Gems, jewellery export picking up

KARACHI (February 05 2003) : The export of gems and jewellery is picking up as this sector has recorded a growth of over 21 percent during the current financial year, official sources said.

Aggressive marketing strategy and the participation of the local entrepreneurs in fairs and exhibitions in foreign countries have been very helpful in the promotion of exports of these items.

During the first quarter of the current financial year, the export of gems and jewellery amounted to $8,385,000.

The sources said that the most significant factor was the availability of visas.

Last year, the visa facilities were suspended because of September 11 incidents. This year, the situation has improved.

The export of jewellery has increased though that of gem has decreased. Restricted interaction between the importers and the exporters because of reduced visit of foreigners and visa restrictions by the US and European Union (EU) continued against the exporters and that was the major reason for this decline.

During the last seven years, Pakistan exported gemstones of $ 60.5 million.

The gemstones being exported to several countries include ruby, emerald, sapphire, topaz, aquamarine, tourmaline, quartz, garnet, parasite, spinal, diamond albite, neurofite, polucite and peridote.

The private sector played a major role in this export.

It is reported that the gemstones were exported in raw shape while value addition and cutting of gemstones could increase its price.

The government has allowed the private sector to import machinery used in cutting and polishing of gemstones.

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