Islamabad : The Italian government is considering establishing a training institute to promote the gems and jewelry and gemstone industry in Gilgit-Baltistan.
The Italian government move would be a milestone in the development of the gems and jewellery industry in Gilgit-Baltistan also help to achive the objective of employment generation in the region, The Chairman Federation Pakistan Chamber of Commerce and industry (FPCCI) Capital Office Qurban Ali said while in one on one meeting with the
Ambassador of Italy to Pakistan Andreas Ferrarese here on Sunday.
Chairman FPCCI said that Gilgit-Baltistan is currently a region rich in natural resources, including precious stones and minerals.
He said that Italy-Pakistan economic cooperation, including in bilateral trade, industry and agriculture, is exemplary, which needs to be further enhanced.
Senior business leader said that Pakistan has an export potential of worth $ 32 billion annually in the latent gemstones industry to earn revenue for strengthening the country’s economy.
He said that local exporters of gemstones must go for innovation and
also add on modern technology to enhance the value of precious and
semi-precious stones for the international competitive market to earn
more profits.
Qurban Ali said that Pakistan is home of precious and semi precious stones and for utilizing this potential, “We must establish the technology and innovation driven industry to attract the foreign investors from European Union (EU) and United States of America (USA).
He said that mainly these precious stones are explored from almost
inaccessible territories of the hilly regions in the south and north as the most extensive ruby deposits in Pakistan are located in the Hunza valley of the Gilgit Baltistan.
He informed that after Burma, Hunza is the only other region in the world that has produced “Blood Red ruby”.
Chairman FPCCI said that some of the finest ‘Emeralds’ in the World are being mined in the picturesque valley of Swat and AQUAMARINE also explored from the Shigar valley of Baltistan, Chitral, Kaghan and inthe Neelam Valley of Azad Kashmir.
He said that ‘Flurite’ is found in Chitral, Dir, Hunza, and Balochistan with the largest deposits occurring in the Northern partof the Koh-e-Mardan range of Kalat.
He further said that Pakistan is a country of young people and they need employment opportunities and through the gems and stones industry, “we can create a huge opportunity of employment for local youth of GB region including Khyber Paktunkwa and Balochistan.
While in meeting, he also proposed the Ambassador to bring investment
in the potential areas of Tourism, Gemstones, livestock, Mines minerals, Transport and Housing sector to enhance the cooperation between both of the countries.
The senior business leader said that CPEC related Gilgit Baltistan (GB) Special economic Zone (SEZ) and others would increase the business and industrial cooperation between the business sector of Italy and Pakistan.
He said that Italian investors and businessmen can invest and start Joint Ventures with local industrialists in Gilgit Baltistan, SEZ in value addition on
agriculture, livestock, mines and minerals and milk products.
While the Ambassador of Italy to Pakistan Andreas Ferrarese on said
that Italy wanted to start a new era of economic and trade cooperation
with Pakistan through transfer of technology and for upgradation of
Pakistan’s textile industry.
The Ambassador that “We are considering to be established a training
institute to promote the gems and jewelry and gemstone industry in Gilgit-Baltistan
He said that currently Italy was providing technical assistance in Agriculture and textiles upgradation through modern machinery, value addition in agriculture, leather and marble sectors.
He said Pakistan was working to expand it to Agricultural items including dairy and
livestock, olives and olive products, plastics, processed food and construction sector in Italian market.
He informed that dairy and livestock, olive and olive products, plastics, processed food and the construction sector were the areas where Italy could extend its cooperation with Pakistan.