JULY 15 - The global demand of gold is more than 2,500 tons and Pakistan’s consumption is more than 100 tons, which makes Pakistan world’s 10th largest market in the gem sector, said former coordinator on gem and jewelry development sector Strategy Working Group (SWOG), Shafi Chowksi on Monday.
Pakistan is full of natural resources, unmatched quality of ruby, emerald, topaz, aqua marine, fluorite, lais-lazuli, which are mined from the valleys of Gilgit, Hunza, Swat, Azad Kashmir and Chitral, Shafi added.
Pakistan can capture sizeable gems and jewelry market in Malaysia after signing of Free Trade Agreement (FTA) between the two countries, he asserted. Malaysia is a big gem and jewelry manufacturing industry and Pakistan can achieve $1.5 billion gems and jewellery export target by 2016, provided encouragement to entrepreneurship, supportive infrastructure and introduction of latest mining, gems cutting and jewellery manufacturing techniques, Shafi said.
Karachi is the main commercial hub of gems and jewellery supplying 60 percent of total demand to other parts of the country, he added.
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