In pursuit of a mineral-driven economy, the Government of Pakistan (GoP) has entered into a collaborative agreement with Wisconsin-based Miracle Saltworks Collective Inc (MSCI) through the Pakistan Mineral Development Corporation (PMDC). The partnership has been formalized with a memorandum of understanding (MoU) between the entities.
Operating under the Ministry of Energy’s Petroleum Division, PMDC, and MSCI are embarking on a venture aimed at transforming Pakistan’s mineral sector. The non-binding MoU outlines the creation of a facility dedicated to the crushing and packaging of Himalayan pink rock salt. Conceptualized under the theme “Pink Prosperity,” the facility will cater to the export market.
The MoU signing took place on August 11, 2023, in the presence of Engr. Asad Ahmad, Managing Director of PMDC, and Ahmad Nadeem Khan, CEO of MSCI. The event was attended by Muhammad Hassan Iqbal, Additional Secretary of the Petroleum Division.
This signifies a noteworthy stride in bilateral cooperation and economic development between the two countries. With an anticipated investment of $200 million from MSCI, the initiative holds the potential to not only reshape Pakistan’s mineral industry but also enhance its standing in the global market. This partnership highlights the significance of international cooperation in fostering innovation and economic growth.
Pakistan has huge reserves of Himalayan pink salt with potential earnings of up to $12 billion. They are not only important for their aesthetic value but also for their diverse applications. Renowned for their unique mineral composition, these salt deposits are a source of culinary delight and offer prospects in wellness, decorative products, and therapeutic industries.