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Ministry of commerce considers ending Gems and Jewelry Dazzle Park project0 Comments

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Ministry of commerce considers ending Gems and Jewelry Dazzle Park project

Ministry of commerce considers ending Gems and Jewelry Dazzle Park project

 

Federal ministry of commerce has started considering ending the Gems and Jewelry dazzle park project, announced by former President Pervez Musharaf for progress of Pakistan’s Gem and jewelry industry.

The establishment of Gem and Jewelry Dazzle Park project postponed for several years. For this project, government purchased 16 acres of land from Civil Aviation Authority near Karachi Airport and then CAA was given Rs. 206 million in 2007 for lease of this land. But the project remained postponed for several years due to conflict between CAA and Trade Development Authority for rent of this land. After 4 years in 2013, the lease agreement was signed between CAA and TDA and the project started on 10th March 2013.

After spending millions of rupees on the project for several years, now the bureaucracy thinks that this project is not necessary for the progress of industry and now it should be cancelled. On the other hand, the Gem & Jewelry Industry also hasn’t complained about the cancellation of this project. The sources say that TDA has asked to cancel this project. The reason for cancellation of this project is the presence of corruption in its different projects.

The purpose of this Gem and Jewelry Diesel Park was to provide joint ventures for national and international investors and to provide modern facilities to the gems and jewelry sector. Through this project, the export of this sector was hoped to rise from $1 billion to $10 billion.

The sources of Gems and Jewelry sector say that it was an ideal project but the delay of this project due to hurdles from bureaucracy has finished its advantage. International purchasers and experts could get the chance to trade near airport and transit passengers can also purchase this Pakistani jewelry. But the delay in project and law and order situation of city has dimmed all hopes.

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