The Italian government is planning to establish an educational institution to promote the gem, jewelery and gem industry in Gilgit-Baltistan region of Pakistan.

On Sunday, a meeting on the subject was held between the president of the Pakistan’s Federal Chamber of Commerce and Industry, Qurban Ali, and the Italian ambassador to Pakistan, Andreas Ferraris.

“We are considering establishing an educational institution to promote the gem, jewelry and gem industry in Gilgit-Baltistan,” Ferraris said.

It can be mentioned here that Pakistan has an export potential of $ 32 billion annually in the under developed gem industry, while the gemstone is explored in mountainous areas that are almost inaccessible. The largest red ruby ​​deposits in Pakistan are in the Hunza Valley.

Speaking on the occasion, the FPCCI President said the steps would mark a milestone for the region’s gem and jewelery industry as well as help creating jobs in the region.

Qurban Ali called on local gemstone exporters to introduce modern innovations and technologies to increase the value of precious and semi-precious stones in the international market and attract foreign investors from the European Union and the United States to achieve higher profits.

He said that Hunza is the only region in the world after Burma that produce blood-red rubies. Some of the best emeralds in the world are mined in the Swat Valley, while high-grade aquamarines can be found in Shigar, Chitral and Kaghan, as well as in the Neelam Valley in Azad Kashmir.

Likewise, fluorite is found in Chitral, Dir, Hunza and Baluchistan, with the largest deposits in the northern part of the Koh Mardan mountain range in Qalat.

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