Massive Rs800bn Gold Reserve Discovered in Attock

A staggering discovery of gold reserves – valued at Rs800 billion – has been claimed by former Punjab Minister for Mines and Minerals Ibrahim Hassan Murad.According to Murad, the Geological Survey of Pakistan (GSP) has confirmed the presence of 2.8 million tolas of gold along a 32-kilometer stretch in Attock.

In a post on X (formerly Twitter), Murad described the revelation as a “groundbreaking” moment, highlighting the significant potential of Punjab’s natural resources. The GSP conducted extensive research, including sampling from 127 locations across the region, validating the discovery.

“This milestone marks a significant step towards unlocking Pakistan’s mineral wealth,” Murad stated, expressing hope that this discovery would drive economic revitalisation and open up new opportunities for future generations.

While Murad’s statement has sparked optimism, it is important to note that the value of the gold reserves, approximately $287 million in international markets, remains unverified by independent sources.

 

Provincial Minister Confirms Discovery

Sardar Sher Ali Gorchani, the current Punjab Minister for Mines and Minerals, confirmed the discovery of 2.8 million tolas of gold in Attock.

Speaking to a private TV channel, Gorchani explained that the findings were based on a detailed study conducted by the Geological Survey of Pakistan, which included fieldwork that continued through the previous year.

The provincial minister further revealed that the government intends to hire Nespak and other firms to conduct further studies to confirm the reserves’ true value, which he estimates at Rs600-700 billion on the global market.

 

Measures to protect the gold reserves

In light of the discovery, the provincial government has imposed Section 144 in the area to prevent illegal mining and theft of the gold.

Local residents have been known to gather gold particles from the region, especially during the winter months when water levels in the Indus River decrease.

Gorchani also shared that an auction for the gold reserves is planned to take place within a month. He said that the rules for the auction have already been outlined, and a committee, led by the Attock deputy commissioner, will oversee the process. The rules will be officially approved by the Punjab cabinet in an upcoming meeting.

 

Impact on Real Estate Development

This discovery is also expected to significantly impact the local real estate sector. As Attock emerges as a hub of economic activity, the demand for residential, commercial, and industrial properties is likely to surge. The anticipated growth in infrastructure, coupled with an influx of professionals and businesses, could transform the region into a prime location for real estate investment. Land values are projected to appreciate, presenting lucrative opportunities for investors and developers.