ISLAMABAD: Punjab government has sought the final report from National Engineering Services Pakistan on significant gold reserves discovered in Attock district with April 30 deadline set for submission.
Sources confirmed that initial verification of the placer gold deposits has already been completed while authorities await comprehensive findings to proceed with extraction and auction plans.
The discovery centres on nine placer gold blocks along the Indus River in Attock where preliminary surveys indicated substantial quantities of gold.
Punjab Minister for Minerals Sardar Sher Ali Gorchani earlier announced the presence of 2.8 million tola of gold spread across a 32-kilometre-wide area.
Regional media reports placed the potential market value between Rs600 billion and Rs800 billion depending on global gold prices and exact confirmed quantities.
Geological Survey of Pakistan conducted extensive sampling from over 127 locations validating the initial presence of gold particles in riverbed sediments.
This placer gold formation results from natural erosion processes originating upstream in the Himalayan regions carried downstream by the Indus and Kabul river confluence.
NESPAK signed a formal contract with the Punjab Mines and Minerals Department for consultancy services including preparation of bidding documents and transaction advisory for the Attock Placer Gold Project.
The agreement covers detailed technical evaluation of the nine identified blocks to ensure transparent international auction processes.
Experts estimate that successful extraction could generate substantial foreign investment and create thousands of direct and indirect jobs in the mining sector.
Pakistan’s current official gold reserves stand at approximately $5.43 billion as per State Bank of Pakistan data from late 2024 making this domestic discovery potentially transformative for foreign exchange earnings.
Punjab government plans to launch an international auction immediately following the NESPAK final report and cabinet approval.
Bidding will target global mining companies with advanced placer extraction technologies to maximise recovery rates from riverine deposits.
Similar gold indications have surfaced in nearby Mianwali district and along the Sutlej River adding to the regional mineral potential.
These additional sites could multiply the overall economic impact if further surveys confirm commercial viability.
The development comes at a critical time for Pakistan’s economy struggling with external debt pressures and the need for diversified revenue streams beyond traditional agriculture and textiles.
Successful monetisation of these reserves could reduce reliance on international financial institutions and strengthen the national balance of payments.
Security measures including imposition of Section 144 in sensitive areas have already been enforced to prevent illegal extraction activities.
Local communities near the discovery sites anticipate improved infrastructure and livelihood opportunities once commercial operations commence.
NESPAK managing director Zargham Eshaq Khan highlighted the project’s significance as a milestone in Pakistan’s emerging mineral sector consultancy.
The firm will also oversee environmental impact assessments to ensure sustainable mining practices along the ecologically sensitive river systems.
International interest is expected to surge once the final report details reserve grades and extraction feasibility.
Global gold prices hovering near historic highs could further enhance the projected revenue figures from the Attock blocks.
Punjab authorities have formed a high-level auction committee chaired by the Attock deputy commissioner to oversee the transparent process.
Rules for the auction have been framed and await final cabinet nod to fast-track the initiative.
This gold discovery represents one of the most promising mineral finds in Punjab in recent decades potentially positioning the province as a key player in Pakistan’s mining industry.
Further exploration in adjacent districts could unlock even larger deposits transforming the economic landscape of northern Punjab.
Observers note that timely execution of the auction and extraction phases will be crucial to realising the full economic benefits.
The NESPAK report due by end of April will provide the scientific foundation for all subsequent investment and development decisions.