Significant evidence of placer gold flowing in Punjab’s five rivers: Maryam

Punjab Chief Minister Maryam Nawaz on Thursday claimed that significant quantities of placer gold were present in the province’s five rivers, particularly in areas around Mianwali and Attock.

Addressing the Pakistan Minerals Investment Forum in Islamabad, she said Punjab’s five rivers carried gold and that there was substantial evidence of its presence in sufficient quantities.

Describing Pakistan as a country rich in mineral resources, Maryam said its wealth lay both above and beneath the ground but had yet to be fully explored and turned into economic gains. She said the main obstacle to unlocking this potential was the instability and disorder above ground, rather than a lack of resources beneath it.

The chief minister said revenue generated by Punjab’s mines and minerals department had increased from around Rs10 billion two and a half years ago to Rs40bn, adding that this was only the beginning. She also highlighted the province’s iron ore reserves, saying Chiniot had an estimated 261.5 million tonnes.

Maryam said the provincial government was working to attract investment in the mining sector by removing bureaucratic delays, red tape and other hurdles. She said her responsibility as chief executive of the country’s most populous province was to facilitate investors and provide them with an enabling environment.

The government was introducing one-window services so investors could complete the required procedures without having to approach multiple departments, she added. She said the provincial government was also making substantial capital investments to reduce investors’ initial costs, including the expense of purchasing land.

In addition, the government would offer concessional financing of up to Rs5bn and provide solar-powered energy solutions to help investors manage high fuel and energy costs.

Deputy Prime Minister and Foreign Minister Ishaq Dar also addressed the forum, which was attended by the chief ministers of Balochistan and Sindh and Khyber Pakhtunkhwa Governor Faisal Karim Kundi.