Pakistan hits BIG jackpot worth Rs 80000 crore, major boost to country's crumbling economy

India's neighbour Pakistan has recently hit a jackpot when the cash-strapped nation discovered a massive gold reserve in the Indus river. The estimated worth of the gold is around Rs 80,000 crore, reports suggest. Now, the country has launched plans to extract yellow metal which could prove to be a major boost to the crumbling economy of the nation. Reports suggest that the discovery was made during a government-ordered survey in Attock district in Pakistan’s Punjab province. The state-owned engineering consultancy firm, National Engineering Services Pakistan (NESPAK), and Mines and Minerals Department Punjab, jointly launched the Attock Placer Gold Project to extract the precious metal.

As per reports in the Pakistani media, NESPAK Managing Director (MD), Zargham Eshaq Khan said that the government-owned firm has signed a contract for “Consultancy Services for Preparing Bidding Documents and Transaction Advisory Services for Nine (09) Placer Gold Blocks along River Indus in District Attock.

The ambitious project is being described as a major milestone in the country’s mining sector, and tapping into opportunities in the Indus region could establish Pakistan as a major player in the global mining industry.  Earlier this year, reports emerged in Pakistani media that an illegal gold mining operation had begun at the foothills of the Indus River near Nowshera in Khyber Pakhtunkhwa province near Attock following reports circulating on social media that a huge gold reserve was found in the region. Local mining contractor thronged the area with their mining, but were denied permission by Punjab’s provincial government, due to which no mining was carried out. Moreover, India's other neighbour China, found gold reserves of 168 tons in several provinces of China. The country produces the most gold in the world. In the last few months, it has found two large gold mines.

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