The Punjab government has officially confirmed the discovery of substantial gold reserves in Attock, a city near Pakistan’s capital, Islamabad. This groundbreaking find is expected to bring economic opportunities to the region and attract international interest.
Gold Reserves Verified in Attock
According to a report by Pak Observer, the confirmation of gold deposits came after an extensive survey at the confluence of the Kabul and Indus rivers. The verification process, which took a year, was conducted by the Geological Survey of Pakistan and further validated by the National Engineering Services Pakistan (Nespak).
The discovery marks a significant milestone, with reports estimating the gold reserves at a staggering 28 million tolas, equivalent to approximately $287 million in market value. Former caretaker minister Ibrahim Hassan Murad had initially highlighted the potential of these deposits, claiming they could be worth around Rs800 billion.
Punjab Government’s Plans for Gold Extraction
Following the confirmation, the Punjab government is gearing up to auction the extraction rights on an international scale. A high-level committee has been formed to oversee the process and will soon present the findings to Chief Minister Maryam Nawaz. The auction aims to attract global investors to ensure transparent and efficient utilization of these resources.
Measures to Prevent Illegal Mining
In response to reports of unauthorized gold extraction by locals, the government has imposed Section 144 in the region. This step aims to curb illegal mining activities, as residents have been collecting gold particles from the Indus River, particularly during the winter season when water levels recede. The restriction ensures the protection and sustainable use of these valuable resources.
Economic Impact of Gold Reserves in Attock
The discovery of gold in Attock is seen as a potential lifeline for Pakistan’s economy, which faces challenges such as high inflation and unemployment. The reserves have the potential to boost the country’s economic stability, generate employment opportunities, and attract foreign investment.
The confirmation of significant gold reserves in Attock has created a wave of optimism for Pakistan’s economic prospects. With plans for an international auction and measures to prevent illegal mining, the Punjab government is taking decisive steps to ensure the responsible and profitable utilization of this newfound treasure. As developments unfold, the gold reserves in Attock are poised to become a cornerstone of Pakistan’s economic future.
