KARACHI: A claim regarding the discovery of gold reserves worth an estimated $636 billion in Tarbela has triggered widespread debate, after Hanif Gohar, Chairman of Air Karachi and former Senior Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), made the assertion during a discussion at the Karachi Press Club on Monday.
Gohar claimed that the alleged reserves were substantial enough to clear Pakistan’s external debt, adding that the matter had been conveyed to the Special Investment Facilitation Council (SIFC) and the Governor of the State Bank of Pakistan (SBP). He further stated that initial contact had been established with Australian and Canadian drilling companies for exploration.
“Once directives are issued by the Prime Minister, the process of extracting gold from Tarbela’s soil will begin,” he said.
Experts Question Credibility of Claim
The claim, however, has not been verified by any official geological body or government agency. Mineral experts have voiced strong reservations, noting that Tarbela is not recognised as a gold-bearing site in any credible geological survey conducted so far.
Speaking to The Pakistan Frontier, a senior geologist associated with Pakistan’s mineral exploration sector said the estimated figure appeared “scientifically unsubstantiated and economically unrealistic.”
“If such a deposit truly existed, it would rank among the largest gold discoveries in world history. A valuation of $636 billion exceeds Pakistan’s GDP and would require extensive exploration, feasibility, and laboratory testing before any public announcement,” he said.
He added that no known survey, either local or international, has reported gold reserves of this scale in the Tarbela region.
Air Karachi Launch Timeline
Separately, Gohar announced that domestic flight operations of Air Karachi are expected to begin on March 23, 2026, with an initial fleet of three to five Airbus aircraft. International flights, he said, will be initiated after one year of successful domestic operations.
Real Estate Development Initiatives
Gohar also disclosed that Hyderabad’s first four-star hotel is under construction on a five-acre plot. He emphasised that Pakistan cannot reduce its budget deficit without strengthening the construction sector, adding that developmental activity in Karachi continues despite systemic inefficiencies.
Economists, however, maintain that structural reforms, investment transparency, and sustainable regulatory measures remain essential for long-term sectoral growth.