The people of Pakistan-controlled parts of Kashmir Valley are said to be sitting on the treasury. Millions of rubies are under the soil of this region, whose market value is close to half a billion dollars. But due to lack of resources and investment, they have to keep the treasure under the ground.
Huma Rizvi is one of the valuable stone traders in the region. He said, the improved ruby found in Myanmar is similar to that of the rich Ruby that is under Pakistani soil. However, due to the lack of withdrawal process and lack of investment in infrastructure and technology, this potential region remains behind.
There is only one mine in this part of Kashmir Valley, and there is only one search site. Here the miners are excavating the search for possible gems. But a geological survey approved by the provincial executive committee has revealed that more than 40,000 kg rubies hide under the soil of this region. Other valuable substances, such as copper, gold and silver, are also about 50 thousand kg.
Director General of Pakistan’s Mining and Industrial Company (AKMIDC), Shahid Ayub said, the amount of precious stones in the region, if lifted, will be the fate of the whole area will change, experts say. But there are not enough money to spend on the expense of modern equipment that needs to be purchased or excavation of new mines to lift these stones. In India, the controversial control line often causes firing incidents, private companies are also discouraged from investing there.