US Firm Signs Agreement to Invest $200 Million in Pakistan’s Pink Salt Industry

Caretaker Prime Minister Anwaar ul Haq Kakar  on Tuesday said the effective utilization of human as well as mineral resources would lead to a stable, prosperous and rising Pakistan.

“Our human resource is more important than our mineral resource. The human resource coupled with the mineral resource will lead to stable, prosperous and rising Pakistan,” the premier said addressing the signing ceremony of a joint venture agreement between Pakistan Mineral Development Corporation (PMDC) and the US-based Miracle Saltworks Collective Inc. for establishing a dedicated facility for crushing and packaging of pink salt for the export purposes.

PMDC Managing Director Asad Ahmed and Miracle Saltworks Collective Inc. President Ahmed Nadeem Khan signed the agreement that was witnessed by the prime minister, Energy Minister Muhamamd Ali and relevant senior authorities.

The prime minister said the practice of exporting raw materials should come to an end as the export of the products after value addition was direly needed.

“This is the path for Pakistan. This is the right step. We will be exporting the quality product in the coming days. Pakistan will get rightful branding for its product. This will pave the way for further opportunities,” the prime minister remarked who also distributed awards among the individuals who played a key role in the joint venture agreement.

He said the decision of the US-based firm to invest $200 million in Pakistan was a resounding vote of confidence in the government’s economic policies. He said the investment was not just about the pink salt rather it was about trust, partnership and shared prosperity.

The prime minister told the gathering that the Special Investment Facilitation Council (SIFC) was playing an important role in creating an enabling environment for foreign direct investment.

It serves as a one-window facility for the investors besides streamlining processes and removing the bureaucratic hurdles to attract investment in the fields mining, energy, IT, agriculture, livestock, industry and tourism, the premier added.

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