ISLAMABAD: Pakistan and a US company, Miracle Saltworks Collective Incorporation, on Wednesday, inked an agreement in Islamabad for the value addition of Himalayan Pink Salt to increase its exports.
Addressing the signing ceremony, Caretaker Prime Minister Anwaar-ul-Haq Kakar said the deal not only paves the way for the export of pink rock salt from Pakistan but also symbolizes a landmark achievement for the country’s investment climate.
He said that a 200 million dollar investment in this initiative is a reflection of confidence in Pakistan’s economic policies and investment-friendly environment.
The prime minister vowed to utilize the full potential of the mining sector to become a new driver of economic development.
Counting on different initiatives to increase Foreign Direct investment (FDI) in Pakistan, he said the government had introduced comprehensive reforms to create a level playing field for the investors with streamlined procedures, transparent regulations, and robust legal frameworks.
He said the Special Investment Facilitation Council (SIFC) was playing a pivotal role in fostering an enabling environment and facilitating foreign direct investment.
The PM said that the SIFC served as a one-window operation for investors for their support.
He added that the government was committed to extending all possible support to investors to facilitate more FID in the country.
Speaking on the occasion, Caretaker Minister for Energy Muhammad Ali said the state-of-the-art crushing and packaging plant will pave the way for the export and processing of pink salt rock in the country.
Pakistan’s Pink Salt Reserves
He said that Pakistan has more than 50 billion tons reserves of pink rock salt, whereas only 4 million tons is being extracted.
The minister said minerals currently contribute to 1% of the GDP, and the target is to take this figure to roughly 5% in the next five years.
