Punjab chief minister says gold is present in province's rivers
Pakistan's Punjab chief minister Maryam Nawaz has said substantial quantities of placer gold are found in the province's rivers, and pointed to growing mineral revenue and investor incentives.
Speaking at the Pakistan Minerals Investment Forum in Islamabad on Thursday, Maryam Nawaz said there was significant evidence of placer gold in the rivers of Punjab, particularly near Mianwali and Attock. Placer gold refers to gold particles found in riverbeds, sand and gravel. She described Pakistan as rich in untapped mineral wealth, but did not give estimates of the quantity or commercial value of the deposits.
She said revenue of the province's mines and minerals department had risen from about Rs10 billion to Rs40 billion over the past two and a half years. She also cited iron ore deposits in Chiniot, estimated at 261.5 million tonnes.
To attract domestic and foreign investors, the provincial government is introducing one-window facilitation to cut approval delays, offering concessional financing of up to Rs5 billion, and providing government-backed capital investment to reduce land acquisition costs. Solar-powered energy solutions are also being promoted to offset high electricity and fuel costs.