**With the knowledge that Indian origin stuff may not be entirely acceptable to the Pakistani Palate if it is found coming from India, De Heers is probably the 'Trojan Horse" being used as the acceptable face camouflaging the Indian connection and the direct contribution that every Pakistani citizen who can afford diamonds will make towards the Indian economy.

NEARLY 50 years after Pa klstan became an Inde pendent country, the diamond people have disco vered we exist and seem to be coming to town in rather a big way Having flouted a bevy of teasingly clad models wearing expensive diamonds and hip hugging saris in front of a very select and wow Ing audience De Beers is now seductively talking about Inexpensive’ diomonde for the average Pakistani pocket "

Since this South African diamond conglomerate Is hardly a philanthropic institution and the sales promotion in Pakistan is being locally han died by an experienced adver tlsing/PR firm that has obvl ously done its homework they probably know something that we don t According to most analysts. Pakistan is in a deep economic crisis the average man in the street the middle class and the moderately wealthy have all been hit hard in descending order of misery i e the most, miserable are synonymous 'with the most poverty stricken

Even the upper middle class and moderately wealthy (the upwardly mobile or "yuppies") have food and utility bills rather than diamonds on their minds

So have the De Beers mar ket analysis team gone bonkers In trying to penetrate such a rapidly disintegrating market or have they suddenly discovered a hitherto latent love for Pakistan that has aroused their philanthropic instincts?

Given Pakistan s strong par allel economy (may it last long!), rapid decline of the Pakistani Rupee against most international currencies the growing enthusiasm of revenue officials with respect to ferret • ing out real estate acquisitions (and the official and/or unofficial tax thereof), the increasing lack of lustre among the "upwardly mobile'' for gold as a hedging asset, etc. diamonds may have acquired a new meaning for so many reasons, prime among them being as a status symbol in this very material world for the noveau riche.

Someone had the effrontery in this poverty-stricken land to display diamond-studded Jeans, it is believed that there was no dearth of buyers for this sickening monstrosity.

Selling diamonds to suit the common pocket in Pakistan may not tie a sick joke after all!

Those Pakistanis who have a penchant (and the where withal) to acquire these "inexpensive diamonds need to have a short course of intro duction in diamond's commercial history vis a vis South Asia Most of the world s Comma clal diamonds (at least 75 per cent) arrive uncut In India at a comparatively low price. India being not only the largest market for the finished prod ucts but also the biggest as far as expertise for the cutting and polishing of uncut dia monds

After a sophisticated finishing' process the dia monds assure a new value much in excess of the relatively cheap labour that went into vahie addition to its finish ing stage eg. a rough, uncut diamond worth 81000 may

now fetch 35000 6000* In the next stage when they are set it a necklace, bracelet or any other piece of jewellery, the value addition thereof from its primary uncut stage may be In many multiples. I.e. it may climb to many times the 8 5000 6000 value

Diamonds may be a girl's best friend but for a country as Impoverished as ours and acutely feeling not only the rising costs of imports but a burgeoning import bill as well in the face of dwindling lor elgn exchange reserves even inexpensive diamonds may be a luxury that we can ill af ford al the present time

Literally a stone throw from our five-star hotels In Karachi where the De Beers diamond extravaganzas are usually held as a sound and light" show, people live in make-shift shel ters without running water or plumbing or gas Whatever electricity they get. if they manage it. is by the time-honoured method of illegal connection, the Kunda'\ Bereft of clean drinking water, they can hardly manage one square meal a day. Education transport and medicines are mostly out of their reach, theirs is a 15th century existence with 20th century problems There is a social obligation here that re quires not only the govern ment to make a sacrifice but for those also who can afford diamonds to at least try and do so However one cannot pragmatically expect many of those being targetted by De Beers as potential customers to sud denly discover a social or a moral conscience and help the helpless in any positive way the least they can do is to restrict to some extent the spending the country's hard earned foreign exchange in unnecessary purchase of these non-prodifttive but expensive precious stones

Tins is particularly galling because almost all the value addition from the diamond s rough uncut stage goes directly

into the Indian economy (already a 8 5 billion trade. For every piece of finished di ainond that our girls may be vying to buy. the finishing cost 8oes to Indian craftsmen

■utters and polishers), an ex pertlse not only handed down through generations but added to l>y adequately funded train ing Institutes

The difference from the original state to the finished stage notwithstanding. Its commercial value may tie even more expensive when sold to Pakistan depending upon what the Jewellery designer or the diamond merchant is likely to get

With the knowledge that Indian origin stuff may not be entirely acceptable to the Pakistani Palate If ft is found coming from India. De Beers Is probably the Trojan Horse" Being used as the acceptable face camouflaging the Indian connection and the direct contribution that every Pakistani citizen who can afford diamonds will make towards the Indian economy

There is no conspiracy theory here or a grand design to

undermine Pakistan s economy and thus compromise its na-tKmal security this is a hard fact of business

To rouse the patriotic instinct may be good in theory in practice those who can afford diamonds will certainly keep on buying them, the De Beers presentation will ensure that the make believe becomes economic reality Given that our girls will continue to covet diamonds as their best friend, whal the government can do is to ensure that maximum of the diamonds are only imported in rough uncut state In order to develop the local Industry for cutting and polishing Our many generations of cutters and polishers need remedial training and upgrading to modern sophisticated meth ods Lake it was done In India De Beers could perhaps help fund a couple or so of Insti lutes for pro* easing precious minerals so that our private sector gets the expertise through the whole spectrum of value addition for the many Ijems and precious stones ound In Pakistan

De Beers could further help by re purchasing most of the finished products and market ing it themselves in the rest of the world In the same manner as they are doing for India, targetting us presently among the many potential suckers (oops, buyers'. In the world Let our girls have diamonds but these should lie finished In Pakistan by Pakistani crafts men so that the value addition remains within the Pakistan economy

The attraction for diamonds being quite slropg In Pakistan, the second largest market alter India In Asia the prod ucts being blatantly peddled by De Beers could only be done so when backed by diamond studded clout Those who normally m inipulatr the pup pet strings of our policymakers are not averse to the lustre of diamonds. It translates into hard currency quite easily. Make believe or not. when you have plenty of money, you have plenty of clout But when you have diamonds, you have 'he loyalty of those with plenty of clout In Pakistan forever (with apologies to Ian Flemings "Diamonds Are Forever'" for using the similarity very much as intended).