ISLAMABAD, Mar 6: Pakistan has made a significant discovery of gold deposits in the Indus River, with estimated reserves valued at approximately 2.65 billion Kuwaiti Dinars (KWD). The find, located in the Attock district of Punjab province, was revealed during a government-commissioned survey and is being hailed as a potential game-changer for the country’s mining sector. With Pakistan facing economic challenges, this discovery presents an opportunity to boost domestic gold production and reduce reliance on imports.

The exploration and future extraction of these reserves are being spearheaded by the state-owned National Engineering Services Pakistan (NESPAK) in collaboration with the Punjab Mines and Minerals Department. Zargham Eshaq Khan, Managing Director of NESPAK, confirmed that the consultancy 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" (Dawn News). This marks a critical step towards formalizing commercial gold mining in the region.

Geologists believe that the Indus River carries gold deposits from the Himalayas, which accumulate in Pakistan in the form of placer gold—small gold particles or nuggets that are rounded due to the river’s natural movement. The Indus Valley region has historically been known for its mineral wealth, and this latest find reinforces its potential as a valuable resource hub.

Pakistan has historically maintained low gold reserves compared to other South Asian nations. As per the State Bank of Pakistan, the country’s official gold reserves were valued at $5.43 billion as of December 2024 (The Express Tribune). The discovery in Attock could contribute to expanding these reserves and provide a much-needed boost to the national economy.

The government envisions the Attock Placer Gold Project as a step toward reducing dependence on foreign gold imports, strengthening Pakistan’s mining sector, and attracting foreign and local investors to support large-scale extraction operations. If successfully managed, the project could provide economic relief at a time when the country faces a struggling economy, dwindling foreign exchange reserves, and a depreciating currency.

The possibility of gold deposits in the Indus River had already led to increased illegal mining activity earlier this year, particularly in the foothills near Nowshera in Khyber Pakhtunkhwa province. Reports of potential gold discoveries circulated on social media, prompting an influx of local mining contractors attempting unauthorized extraction. In response, the Punjab provincial government imposed strict restrictions to prevent illegal mining and unauthorized exploitation of resources (The News International).

For Pakistan to capitalize on this discovery effectively, it will need to implement a robust regulatory framework, ensure transparency in the bidding process, and adopt modern mining technologies to maximize extraction efficiency while minimizing environmental impact.

While the discovery is promising, its long-term economic impact will depend on how efficiently the government and private sector collaborate to develop mining infrastructure, attract investments, and ensure compliance with international mining standards. If executed successfully, Pakistan could establish itself as a key player in the regional gold mining industry.

As the country moves forward with its extraction plans, the coming months will be crucial in determining whether this discovery translates into tangible economic gains or remains an untapped resource.