In a significant boost to its struggling economy Pakistan has discovered a massive gold reserve in the Indus River estimated to be worth around ₹80,000 crore. The country has now launched efforts to extract the treasure, which could provide much-needed relief amid its financial crisis.
The discovery was made during a government-ordered survey in Punjab’s Attock district leading to the launch of the Attock Placer Gold Project. The project is being handled by the National Engineering Services Pakistan (NESPAK) and the Mines and Minerals Department Punjab.
NESPAK’s Managing Director Zargham Eshaq Khan revealed that the firm has signed a contract for bidding and advisory services for the extraction of placer gold from nine blocks along the Indus River in Attock.
Geologists believe that gold deposits in the Indus River originate from the Himalayas in India and travel downstream eventually settling in Pakistan. These gold nuggets known as placer gold, are often flat or round indicating they have traveled long distances.
The Indus Valley region, historically home to the Indus Valley Civilization (IVC) is rich in natural resources including rare earth minerals, gold and silver.
Despite the recent discovery Pakistan has one of the lowest gold reserves in South Asia. According to State Bank of Pakistan data, the country’s gold reserves stood at $5.43 billion as of December 2024.
Earlier this year reports surfaced of illegal gold mining operations near Nowshera in Khyber Pakhtunkhwa, but mining activities were halted after intervention by Punjab provincial government.
