Call to produce, promote gems & jewelry sector scientifically

HARIPUR: Pakistan has a huge potential to tap into the area of gems and jewelry and could increase the size of its economy by employing the scientific approach for production, promotion and checking illegal trade.

This was the gist of presentations made during the PARTASH conference 2024 here on Wednesday. Pak-Austria Fachhochschule Institute of Science and Technology PAF-IAST, organized the two-day event in collaboration of Higher Education Commission, China Pakistan Economic Corridor (CPEC), Pakistan Institute of Fashion Design (PIFD), and KEEZ Technical and Analytical Consultancy (SMC-Private) Limited. Various organizations, business entities dealing in gem and jewelry, art and design displayed their products at the exhibition. While the stall exhibiting bead jewelry and decorative artifacts made by jail inmates was the point of attraction by visitors on this occasion. Arshad Ayub Khan, provincial minister for local governments and election, also attended the second day’s session, members of academia, designers, entrepreneurs, metallurgists and gemologists were among those who attended the conference.

Speaking to the participants, Dr Mujahid, rector of PAF-IAST, said that the world economy of the jewelry gemstone market stood at $ 206 billion till last year and projected to be increased to $ 350 billion 2024.“It’s a huge market where India is the biggest player that works with 24000 tonnes of gold in the jewelry market,” he said, adding that Pakistan had $1.3 billion in the world market and expecting $ $1.6 billion market with 2.9pc growth rate by 2029.

He said that despite being the 8th largest gemstone producer in the world, Pakistan’s exports were dismally low at only $8 million. Sharing the loss of equity in the wake of smuggling of Pakistani gemstones, he stressed on the need of putting checks on illegal trade and employing the scientific approach to get benefits of the untapped potential.

Other speakers also emphasized the need for establishing institutions to boost Pakistan’s gemstone industry so that it could flourish. The speaker from Human Development Organization (HDO)’s presenter Sadaqat Khan, in his presentation “Art behind the bars” highlighted the jewelry, decorative and religious artifacts and the material used to improvise those items with available but meager resources.