GSP kept out of Chiniot iron reserves determination

STAFF REPORT ISB: Geological Survey of Pakistan (GSP) has determined large reserves of iron ore and copper at 32 different locations in Chiniot and other sites of Punjab, however, this state-owned department has not been not invited to the inaugural ceremony in Chiniot. GSP has determined 32 different places in 80,000 square kilometer area of Punjab, which is abundant in iron ore and copper reserves.

The sites of large reserves of iron ore and copper are located in Faisalabad, Nankana Sahib and Chak Jhumra (Faisalabad). However, work on the devolvement of these reserves will start after receiving required funds from the Ministry of Finance.

The GSP had started work in 1989 for discovering iron ore and copper in Chiniot and at 32 different places of Punjab.

The engineers and staff of GSP had worked hard day and night despite the constraints of funds and technology. Finally, with only Rs 50 million funds the GSP discovered Riqo Diq like treasure in Chiniot.

The officials said that Punjab Government has got third party verification of Chiniot reserves from a Chinese company at a cost of Rs1.6 billion.

So far, verification to the availability of 500 million tons of reserves in Chiniot has been made, price worth of the reserve is in multi-billion dollars.

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