Islamabad, September 13, 2024 — A recent session of the National Assembly Sub-Committee on Commerce has uncovered alarming figures regarding gemstone smuggling in Pakistan. MNA Gul Asghar Khan reported that gemstones worth a staggering $5 billion are illicitly smuggled out of the country each year.
Despite Pakistan being ranked among the top eight gemstone producers globally, the official export figures are significantly lower, standing at only $8 million. The discrepancy arises as these precious stones are smuggled to Thailand, where they are then cut, polished, and sold at a much higher value.
Further investigation revealed that 30-40 percent of gemstones smuggled into Pakistan originate from Afghanistan. In light of this, there have been discussions about the potential benefits of opening the Afghan border for legal gemstone trade as a strategy to mitigate the smuggling issue.
The committee’s findings highlight a critical gap in leveraging Pakistan’s gemstone industry for economic gain and stress the need for effective measures to combat the illegal trade.
