Former Mining Minister of Pakistan's Punjab province Ibrahim Hasan Murad, in a statement issued on X announced the groundbreaking discovery of "2.8 million tolas of gold, valued at 800 billion PKR."
The minister further noted that sectors like IT and telecommunications face their own economic challenges, with shutdowns disrupting social and digital activities.
Pakistan's crumbling economy has been beset by decades of financial mismanagement and poor governance, as citizens are struggling to meet their basic needs. This is Pakistan's 25th loan from the IMF and it has become the lender's fifth-largest debtor.
The $7 billion loan is Pakistan's 25th IMF payout programme since 1958 in exchange for unpopular reforms like increasing taxes. Decades of mismanagement and poor governance brought Pakistan to the brink of default last year as the country faced heavy economic losses.
Pakistan is facing severe economic turmoil, placing a heavy burden on its population amidst one of the nation's most significant financial crises in recent history. As the cost of living continues to rise sharply, essential goods are becoming increasingly unaffordable for many.
This is not a phenomenon in Pakistan, as vegetable prices tend to skyrocket ahead of festivals like Ramadan and Eid-Al-Adha. Pakistan continues to endure high food inflation despite government's efforts to curtail rising prices, which seem to be having the opposite effect.
The Pakistan Economic Survey highlighted two significant developments in the country. Firstly, it revealed a surprising increase in the donkey population in the last one year. On a more concerning note, the survey also reported that 4.5 million people in Pakistan are currently unemployed.
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