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Despite its abundant reserves of precious and semi-precious gemstones and rich history of jewellery manufacturing, Pakistan has been unable to develop an internationally competitive gems and jewellery industry. Capitalizing on its vast natural resources, low labor costs, skilled craftsmen, and growing national and international demand, Pakistan has the potential to become a regional hub for precious stone cutting and jewellery manufacturing.
Keeping in view the above facts, the Pakistan Initiative for Strategic Development and Competitiveness (PISDAC) Project was launched by the United States Agency for International Development (USAID). The project was implemented by J.E. Austin, a US management consultancy company in partnership with Small and Medium Enterprise Development Authority (SMEDA) of Pakistan. As part of the initiative, a group of committed industry stakeholders from gems trading and mining, jewellery manufacturing, jewellery retail and wholesale, training institutions, technical service providers, raw material suppliers and other allied industries agreed to form a Strategic Working Group (SWOG) to address how the industry could reposition itself through a better strategy. Within 16 months from its inception, the SWOG had developed a strategy shared and agreed to by the private sector and the Government of Pakistan.
The SWOG itself has become a recognized private sector platform on which all key players in the value chain including the public sector have come together. One of the major features of the strategy put forth was the formation of a separate company for this sector which would undertake to implement the strategies spelled out for the sector. In the light of this recommendation, Government of Pakistan formed Pakistan Gems & Jewellery Development Company (PGJDC) in June 2006 as a non-profit public/private entity for the development of the Sector. The company became operational in April 2007.
The main objectives of PGJDC are to ensure the implementation of the Strategy formulated by SWOG, SMEDA with USAID for general uplift of the industry and increasing the competitiveness of Gems & Jewellery Sector of Pakistan.
MEMORANDUM AND ARTICLES OF ASSOCIATION:
Memorandum of Association
Articles of Association