{
  "id": 14607564,
  "title": "PM slams delay in gemstone projects",
  "url": "https://urgent.news/2026/10/15/pm-slams-delay-in-gemstone-projects",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-15T03:37:22.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2037219/pm-slams-delay-in-gemstone-projects"
  },
  "original_language": "en",
  "account": "Prime Minister Shehbaz Sharif expressed dissatisfaction on Wednesday regarding the delays in establishing a pilot project for the gemstones and jewellery sector and the lack of progress in advancing the sector. He instructed the relevant authorities to formulate and present an action plan with specific time frames. Emphasizing the priority of developing the gemstones and jewellery sector, the prime minister vowed that no delays would be accepted. He advocated for creating a comprehensive ecosystem for value addition through gemstone mining, cutting, and polishing. Highlighting Pakistan's annual losses of billions of dollars due to substandard mining practices and the smuggling of precious stones, he called for the implementation of a \"Brand Pakistan\" initiative for gemstones and jewellery, inspired by other regional countries. The prime minister directed the authorities to establish centres of excellence promptly to promote value addition, informing the meeting that 4.8 kanals had been allocated for a centre of excellence in Skardu, Hussainabad. During a separate meeting, he stressed the importance of providing timely housing loans to the Apna Ghar scheme, SMEs, and agriculture to bolster the national economy. Encouraging banks to play a significant role in extending loans to these key sectors, he directed those with unsatisfactory performance to enhance lending to qualify for government incentives. The prime minister also instructed the relevant ministries, secretaries, and the State Bank of Pakistan to consult SME, agriculture, and housing finance sector stakeholders. He advocated operating inactive Pakistan Agricultural Storage & Services Corporation Ltd warehouses and silos through a public-private partnership model to allow farmers to securely store their produce. The prime minister commended Allied Bank's approach of setting up commodity storage warehouses and providing loans to farmers for their stored produce, directing authorities to broaden the initiative with private-sector involvement. He welcomed Allied Bank's investment plan for a proposed SME park. Under the Apna Ghar scheme, Rs448 billion in loans was approved for 75,198 applicants, with Rs76 billion disbursed to 14,000 individuals. Banks have been tasked with extending Rs700 billion in loans to finance 125,000 housing units this year. Officials stated that agricultural loan lending amounted to Rs1,352 billion, benefiting 3.455 million people. Targets have been set to increase agricultural lending to Rs1,500 billion and the number of beneficiaries to 4.5 million by June 2027.",
  "summary": "ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday expressed displeasure over delays in preparing the pilot project for the gemstones and jewellery sector and the lack of progress on measures to develop the sector. He directed the relevant authorities to prepare and submit a time-bound action plan on a priority basis. “Developing the gemstones and jewellery sector is a priority, and no delays…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}