In Islamabad, Pakistan, an agreement was signed today between Pakistan and the American firm, Miracle Saltworks Collective Incorporation, aimed at enhancing the value of Himalayan Pink Salt to boost its export potential.
During the signing ceremony, Caretaker Prime Minister Anwaar-ul-Haq Kakar emphasized that the agreement not only facilitates the export of Pakistan’s Himalayan Pink Salt but also signifies a significant milestone in the nation’s investment climate. Kakar noted that the investment of two hundred million dollars in this initiative reflects a strong vote of confidence in Pakistan’s economic policies and the investment-friendly environment.
The Caretaker Prime Minister expressed a commitment to fully harnessing the mining sector’s potential to become a new driver of economic growth in Pakistan. He highlighted various measures taken to increase foreign direct investment (FDI), including comprehensive reforms, transparent regulations, streamlined procedures, and robust legal frameworks. Kakar also credited the Special Investment Facilitation Council, established in June 2023, for playing a crucial role as a one-window operation to support investors.
Emphasizing the government’s commitment to facilitating more foreign direct investment, Kakar assured that all possible support would be extended to investors. Caretaker Minister for Energy Muhammad Ali, speaking at the event, outlined that the state-of-the-art crushing and packaging plant would pave the way for the export and processing of pink salt rock in Pakistan. He revealed that despite having over 50 billion tons of reserves of pink rock salt, only four million tons are currently being extracted.
Minister Ali mentioned that minerals currently contribute only one percent to the GDP, and the target is to increase this figure to approximately five percent in the next five years. Highlighting the country’s mineral potential, he noted the presence of copper and gold reserves, ongoing extraction of copper, silver, chromite, lead, zinc, and graphite, and unexplored reserves of nickel, lithium, and cobalt. The agreement with Miracle Saltworks Collective Incorporation is expected to play a pivotal role in harnessing Pakistan’s rich mineral resources for economic development.
