Cash-strapped Pakistan discovers 28 lakh tolas of gold worth this HUGE amount

Pakistan, a cash-strapped economy, has its unemployment rate rose from 1.5 per cent to 7 per cent in the last 10 years. The country has discovered 2.8 million tolas of gold (28 lakh), which is priced at 800 billion Pakistani rupees (80,000 crore) and spread across a 32-kilometer stretch in Attock, said Ibrahim Hasan Murad, former Mining Minister of Punjab. 

The announcement was made on X, which read, “Former Mining Minister of Punjab, Ibrahim Hasan Murad, has unveiled a groundbreaking discovery: 2.8 million tolas of gold, valued at 800 billion PKR, spread across a 32-kilometer stretch in Attock. This revelation, validated by the Geological Survey of Pakistan, highlights the immense potential of Punjab's natural resources. Massive Gold Deposit: 2.8 million tolas confirmed through extensive research.” 

The statement also said that the gold reserves found in Pakistan have a value of 800 billion Pakistani Rupees which can be used in boosting the country’s economic growth. "Scientific Verification: Geological Survey of Pakistan conducted thorough sampling from 127 sites. This milestone marks a significant step towards unlocking Pakistan's mineral wealth, setting the stage for economic revitalization and new opportunities for future generations," the statement further said. 

A report by ARY News stated that the growth rate of Pakistan's GDP has no potential of fulfilling the needs of the health and education sectors in the country. Pakistan’s current unemployment rate is much more than in India and Bangladesh. Also, the situation is even worse for women who face bigger challenges to access job opportunities in a socially conservative country like Pakistan, the statement said.  

Pakistan also faces a big challenge of an increasing population for solving issues like health, education, and other important sectors. Due to increasing poverty, Pakistan’s population increases by 5 million every year, according to ARY News. The news outlet further said that to fulfill its employment demands, the country needs 1.5 million jobs every year. 

According to the recommendations of the Planning Commission inflation needs to be reduced to at least 6 per cent to lower the youth unemployment rate and at least 17 per cent reduction is needed to resolve the issue of unemployment among women. 
 
According to the Pakistan Bureau of Statistics (PBS), ARY News reported that the weekly inflation rate, as determined by the Sensitive Price Indicator (SPI), rose 3.97 percent year over year (YoY) in the week ending January 2 compared to the same week the previous year.