Pakistan finds JACKPOT worth Rs 80000 crore in Indus River

In a significant turn of fortune for Pakistan, the financially challenged country has found a large gold reserve in the Indus River, estimated at approximately Rs 80,000 crore, and has initiated plans to mine this treasure, which could certainly provide a crucial boost to its struggling economy.

The finding was allegedly uncovered during a government-ordered survey in the Attock district of Punjab province in Pakistan, after which the state-owned engineering consultancy, National Engineering Services Pakistan (NESPAK), alongside the Mines and Minerals Department Punjab, initiated the Attock Placer Gold Project.

As reported by Pakistani media, NESPAK Managing Director (MD) Zargham Eshaq Khan stated that the state-owned company has entered into a contract for “Consultancy Services for Creating Bidding Documents and Transaction Advisory Services for Nine (09) Placer Gold Blocks along the River Indus in District Attock.”

The ambitious venture is touted as a significant achievement in the nation’s mining industry, and exploring prospects in the Indus region could position Pakistan as a key participant in the worldwide mining sector. Earlier this year, Pakistani media reported that unauthorized gold mining activities had commenced at the base of the Indus River close to Nowshera in Khyber Pakhtunkhwa province near Attock after social media posts claimed a substantial gold reserve was discovered in the area.

Local mining contractors flooded the area with their operations, but they were refused authorization by Punjab’s provincial government, resulting in no mining activity. Geologists state that the Indus River carries gold from the Indian Himalayas, which settles in Pakistan. Referred to as placer gold, the gold nuggets discovered in the river can be either flat or entirely round, indicating they were deposited there after traveling a considerable distance.

Pakistan gold reserves are some of the lowest in South Asia. As per data released by the State Bank of Pakistan, Pakistan’s gold reserves were valued at $5,434.24 million, as of December 2024.