The global gemstone market in 2023 is valued at USD 32.38 billion and is expected to reach USD 56 billion by 2033, with a compound annual growth rate of 5.6 percent. Pakistan possesses the world's fifth-largest high-quality gemstone reservoirs, particularly in KP (Khyber Pakhtunkhwa) and GB (Gilgit-Baltistan). A little focus and patronization of the gemstone business have the potential to generate millions of dollars in foreign exchange.
Descending into Peshawar’s Namak Mandi, a tourist might be surprised to learn that amid the sprawling meat and tikka shops, within the dark and narrow alleys, lies a globally recognized gemstone market. Similar to global forex trading, gem trading starts around the afternoon and continues until late evening, with a host of local and foreign buyers bargaining with local stone dealers to secure the best deals. Namak Mandi's gemstone trad...
Read More
Lt Gen Hassan Azhar Hayat