Testing labs, hallmarking sought for gems, jewellery industry

2026-02-17 - 15:43

Stakeholders have demanded introducing reforms to enable the gems and jewellery industry to play its due role in enhancing exports. Chairing a meeting of standing committee on Reforms in the Gems and Jewellery Sector, Lahore Chamber of Commerce and Industry President Faheem Ur Rehman Saigol highlighted that Pakistan’s jewellery sector has very low exports, while globally this sector earns billions of dollars. He emphasised that the sector should immediately be given the status of a formal industry to avail the benefits. Various reforms were discussed in the meeting, including a clear mechanism for fixing gold rates, the availability of testing labs, and the establishment of an authority for gold and silver. The meeting also stressed the importance of hallmarking. Along with structural reforms, there is a need to establish a prime control committee, streamline buying and selling procedures, involve the government in rate determination, and facilitate the transport of gold between cities. LCCI President stated that if these reforms are implemented on time, the gems and jewellery industry could generate billions of dollars in revenue for Pakistan. He also emphasised working on mines and providing lab testing facilities so that the quality of the country’s products can be certified according to international standards. SBP launches cyber shield to protect banking system, customers