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RCCI urges for establishing Authority to promote Gems sector

Rawalpindi: /DNA/ – The Rawalpindi Chamber of Commerce and Industry (RCCI) urged the government to establish gems and jewellery authority at the earliest and this sector should be given the status of an industry. Value addition can be done through cutting, polishing by modern machinery and certification can help the Government to enhance exports.

 These views were expressed by President Rawalpindi Chamber of Commerce and Industry (RCCI) Nadeem Rauf while addressing a training seminar in connection with RCCI’s  3rd Gems & Jewelry and Fashion Exhibition held at a local hotel in Islamabad. The seminar was organized in collaboration with the Trade Development Authority (TDAP).

Representatives from the Ministry of Commerce, Customs, State Bank of Pakistan, and TDP also gave presentations on International Marketing, WeBoc, Registration and Clearance Procedures.

Chamber President Nadeem Rauf said that there is no doubt that Pakistan is a country rich in natural resources, minerals especially precious stones. Northern areas, Balochistan and Kashmir has huge hidden sources of precious stones.

Raw materials (precious stones) are wasted due to blasting and substandard cutting. We cannot do value addition due to lack of high quality polishing and certification. Gems & Jewelry is a nonconventional sector but its potential is enormous.

Neighboring country India’s annual gems export volume is close to $48 billion, while Pakistan’s volume is only close to $30 million. He also stressed that incentives should be given to Gems and Jewelry Sector, tax exemption should be given for setting up of modern machinery and testing lab, Expo Center should be set up in Rawalpindi Islamabad,

Chairman Expo Fayyaz Qureshi said that the authority has been approved by the cabinet (previous PTI Government). The authority should be set up without any further delay, he said.

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