Qudsia Bano

The federal government plans to establish a national registry for gemstone businesses under the National Policy to Realize Pakistan’s Gemstone Potential 2026–30 to improve traceability, compliance and data integrity across the sector.

According to the policy document prepared by the Ministry of Industries and Production, it is estimated that around 50% of gemstone businesses in Pakistan are not registered at all, while the remaining enterprises are registered with various trade associations that lack formal national or international recognition. This fragmented registration environment has undermined traceability, compliance and access to formal financial services.

The policy states that the proposed national registry will be administered by the new statutory gemstone authority and will cover businesses operating at all stages of the value chain, including mining, cutting, polishing, trading and exporting. Each registered entity will be assigned a unique Business Registration Number (BRN) and issued an identity card.

According to the document, the registry will be established through a simple, online registration system designed to minimize administrative burden. Initially, registration will be voluntary, but it will be explicitly linked to access to incentives and facilitation mechanisms to encourage participation.

The policy specifies that registration will be a prerequisite for accessing services such as priority inspection and certification through the National Warranty Office, eligibility for grants from the Export Development Fund, access to cluster-based facilities, duty-free import windows for machinery and engagement with designated banking desks.

The registry will also be integrated with Pakistan Customs, the State Bank of Pakistan and the Pakistan Single Window system. This integration will allow automated verification, reduce documentation requirements and enable data sharing among relevant authorities for compliance and monitoring purposes.

According to the policy, the national registry will address long-standing challenges related to the absence of reliable data on the gemstone sector. Currently, information on mining activity, production volumes and trade performance is dispersed across federal and provincial entities, limiting effective planning and oversight.

The document states that a centralized registry will improve data availability, enabling evidence-based policymaking and targeted interventions. It will also support faster Know Your Customer procedures for banks and financial institutions, improving access to formal finance for registered businesses.

The policy emphasizes that the registry will include renewal and grievance redress mechanisms to ensure fairness and transparency. Over time, the registry is expected to become a foundational component of the sector’s governance architecture.

Credit: INP-WealthPk