Gold Rush: Has Pakistan hit the jackpot?

ISLAMABAD: Pakistan has discovered gold reserves worth $2.87 billion (approximately 800 billion Pakistani rupees) in the Attock district, Punjab.

The discovery was announced by former Punjab’s mining minister, Ibrahim Hasan Murad, during a statement on X (formerly Twitter).

The Geological Survey of Pakistan (GSP) revealed that around 32.6 metric tonnes of gold deposits have been discovered The estimated worth of the deposits stands at around 600 billion Pakistani rupees, marking a significant milestone in the country’s efforts to tap into its vast mineral wealth.

“This breakthrough offers immense potential for Pakistan’s economic revival and future prosperity,” said the former minister.

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The GSP’s findings indicate that the gold deposits were carried downstream by the fast-moving waters of the Indus River from Pakistan’s northern mountainous regions. These particles have been accumulating in the riverbed near Attock over several years.

Media reports suggest that gold-rich areas span a 32-kilometer stretch along the Indus River, with Punjab province being a focal point of the discovery. This development has raised hopes of reducing Pakistan’s national debt and steering the country towards economic stability.

Meanwhile the government, under Prime Minister Shehbaz Sharif, has imposed Section 144 in the area to prevent unauthorised extraction of gold from the Indus River.