Pakistani gem dealers are intending to exploit China-Pakistan Economic Corridor (CPEC) to give the decreasing business a lift.
The All Pakistani Gems Merchants and Jewelers Association (APJMJA) has set up a board of trustees to study and devise a point by point design regarding how the nation’s diamond and adornments fares can be expanded by exploiting CPEC.
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Pakistan’s gemstone and adornments segment is right now enduring because of low fares, experiencing a gigantic fall over the most recent five years. In 2016-17, the fares of the business remained at $5.8 million, down 99% contrasted and $921.8 million out of 2011-12.
Like different ventures in Pakistan, this industry can likewise exploit CPEC, say authorities.
“With the assistance of Chinese venture and apparatus, we can expand our gemstone and gems fares to $5 billion in only 3 years,” said APJMJA Chairman Matiullah Sheik. “Pakistan has the finest craftsmanship and China has innovation. Together, we can advance fares of the business,” he said.
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There are near 22,000 outlets and 18,000 workshops of gemstone dealers and gem dealers crosswise over Pakistan. The area is intending to propose the legislature to make diamonds and adornments mechanical zones, preparing focuses and show focuses along CPEC courses to draw the market.
The private division will hold a meeting with authorities of the Trade and Development Authority of Pakistan on October 24 to talk about further points of interest. The APJMJA has 200 individuals however just 12 to 15 are dynamic in trade pearls and gems to worldwide market.
Distributed in The Express Tribune, October 22nd, 2017.
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