Gems & Jewellery News

Italy mulling over setting up gemstones training institute in GB


ISLAMABAD: The government of Italy is considering establishing a training institute to promote the gems and jewellery and gemstone industry in Gilgit Baltistan (GB).

A meeting in this regard was held between Federation Pakistan Chamber of Commerce and Industry (FPCCI) Chairman, Qurban Ali, and Ambassador of Italy to Pakistan, Andreas Ferrarese, here on Sunday. 

“We are considering establishing a training institute to promote the gems, jewellery and gemstone industry in Gilgit Baltistan,” Ferrarese said.

It may be noted here that Pakistan has an export potential worth $32 billion annually in the latent gemstones industry, while Precious stones are explored from almost inaccessible territories of the mountainous regions. The most extensive ruby deposits in Pakistan are located in the Hunza valley.

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Speaking on the occasion, the FPCCI chairman said that the move would be a milestone in the development of the gems and jewellery industry in GB and also help achieve the objective of employment generation in the region.

Qurban Ali urged local exporters of gemstones to adopt innovation and modern technology to enhance the value of precious and semi-precious stones for the international market and attractimg foreign investors from the European Union (EU) and United States (US) to earn more profits.

He informed that after Burma, Hunza is the only other region in the world that produces blood-red rubies; some of the finest emeralds in the world are mined in the picturesque valley of Swat, while high-quality aquamarine can be found in Shigar, Chitral, Kaghan and also Neelam Valley of Azad Kashmir.

Similarly, fluorite is found in Chitral, Dir, Hunza, and Balochistan, with the largest deposits occurring in the Northern part of the Koh-e-Mardan range of Kalat.

The senior business leader said that CPEC related GB Special Economic Zones (SEZ) would increase business and industrial cooperation between the business sectors of Italy and Pakistan.

He also suggested that Italian investors and businessmen start Joint Ventures (JVs) on mining with local industrialists.

Italy is currently providing Pakistan with technical assistance in agriculture and textiles up-gradation through modern machinery, value addition in agriculture, leather and marble sectors as Pakistan expands its exports including dairy and livestock, olive products, plastics, processed food and construction in the Italian market.




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