10.2The Committee has suggested that the Joint Venture partner/ lessees may not agree to dispose of and Government cannot force them for sale the gemstone produced/purchase by them though open auction. On the other hand, valuation by a Group of Experts as envisaged in 1994 Policy encountered several difficulties particularly in respect of reasonableness of the valuation of the material and delay in valuation. In all fairness of things, valuation should be transparent. But gemstone trading does not lend itself to the type of transparency consistent with public service accountability.Besides, it may not be practical and economically feasible to form a large number of Valuation Committee to value the gemstone on day to day basis for a large number of lessees and trading licence through out the State.
