$636b worth of gold reserves found in Tarbela

Australian, Canadian drilling firms contacted for exploration of reserves

KARACHI:

Gold reserves worth $636 billion have been discovered at Tarbela and a briefing on these reserves has been given to the chief of army staff, who responded positively.

This revelation was made by Hanif Gohar, Chairman of Air Karachi and former senior vice president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), during a conversation at the Karachi Press Club on Monday.

He said that the gold reserves found in Tarbela were sufficient to pay off the country's foreign debt and the matter had already been brought to the attention of the Special Investment Facilitation Council (SIFC) and the State Bank of Pakistan (SBP) governor.

Gohar stated that contact had been established with Australian and Canadian drilling companies for exploration of the reserves. "As soon as we receive directives from the prime minister, the process of extracting gold from Tarbela's soil will begin," he said.

Speaking about Air Karachi, Gohar announced that the airline's domestic operations would commence on March 23, 2026. The airline will initially have a fleet of three to five Airbus aircraft.

He said international flights would begin after a year of successful domestic operations. Gohar disclosed that Hyderabad's first four-star hotel was being built on five acres. He stressed that Pakistan could not cut its budget deficit without developing the construction sector, noting that work in Karachi continued despite a poorly functioning system.