Consultative meeting held on Gems and Precious Stones Statistics

BusinessConsultative meeting held on Gems and Precious Stones Statistics

ISLAMABAD: Pakistan: A meeting was held under the Chairmanship of the Chief Statistician Dr. Naeem U Zafar on Gems and Precious Stones Statistics on at Pakistan Bureau of Statistics (PBS) Headquarter in Islamabad.

The main objective of the meeting was to expand the data collection of missing economic areas.

The meeting was attended by the representatives of private and public sectors stakeholders including State Bank of Pakistan, Pakistan Gems Jewelers Traders & Exporters Association, Gems & Gemological Institute of Pakistan, Peshawar, Islamabad Chamber of Commerce and Industries, Centaurus Mall and Pakistan Mineral Development Corporation.

Dr. Naeem U Zafar highlighted the importance of the meeting and possible contribution of this sector in the national economy.

A brief presentation was also given to the participants by the Deputy Director General Dr Bahrawar Jan.

The gem stones are mostly found in raw form and its value addition after cutting and polishing is missing in the GDP. As global scenario, the world gems-stone activity in 2019 has been estimated at 228 billion dollars and projected 307 billion dollars by 2026. The Pakistan export of this sector in 2021 was about 6.7 million dollars. Pakistan contributes 3% in world population, 0.35% in world economy and 0.003% in world Gems-stone economic activity which is highly underestimated.

To evaluate the gems-stone activity and its demand and potential in the Country, some questions were placed before the participants for discussion. Such as what is the gemstone market size in Pakistan, how to measure growth of the market, who are the actors and players of the market, what are the distribution channels and data sources, data format and other various parameter and its availability and authenticity.

The participants discussed various issues at length. All participants extended their full support and agreed to share relevant material with PBS for initial assessment/work.

The Chief Statistician, at the end, thanked all the participants and emphasized that the absence of this sector in the economy should be properly tapped and its reflection into the national GDP be ensured in next rebasing of national accounts, which will only be possible if all our stakeholder collaborates with PBS in the national interest.

Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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