Pakistan and an American firm, Miracle Saltworks Collective Incorporation, on Wednesday, signed an agreement in Islamabad for value addition of Himalayan Pink Salt to increase its export.
On the occasion, Caretaker Prime Minister Anwaar-ul-Haq Kakar has said that this investment will not only boost our pink rock exports but also encourage other foreign investors to explore business opportunities in the country.
He said two hundred million dollars investment in this initiative is a resounding vote of confidence in our economic policies as well as the investment friendly environment.
According to experts, India earns billions of dollars annually through exports of salt, imported from Pakistan at $42/ton. They say there is no salt mine in the Himalayas and India was deceiving the world in the name of Himalaya’s salt.
The investment would be made in preparing feasibility, reserve report, upgradation of mining procedures and processes, construction of world class processing and packaging facility and community development programs, says a press release received here today from Washington DC. During a briefing to top leadership of Miracle Saltworks Collective Inc. (MSCI), it was informed that Pakistan, with its geographical monopoly of the resource, has huge reserves of pink salt with a potential earning of $12 billion annually. According to an estimate, the country possesses approximately 22.22 billion tons of the natural resource, concentrated mostly in the Salt Range areas of Kalabagh, Warcha, Khewra and Bahadur Khel, with an immense potential of kick-starting massive economic activity.
The delegation included President and CEO Ahmed N. Khan, Vice President Tad M. Ballantyne, CCO/Board Member Muhammad M. Khan, Director & Board Member Jeffry Meilander, M. Shamsher Khan, Martyn Element (Vancouver Canada), Nasim Tyab (Vancouver Canada), Dan Terret (Vancouver Canada), Rana Rehan Anwar (Saint Louis), Tony Garson (London England) and Attiq Rana (Saint Louis).
It was informed that currently Pakistan was retaining $70 million only in lieu of export of this unique natural resource due to lack of policy framework and adequate facilities for processing, packaging and worldwide distribution.
Briefing the ambassador, MSCI President Ahmed N. Khan informed that a multi-pronged solution featuring public private partnership under a clearly defined policy was being worked out to assist the government in regulating and encouraging private sector to take a lead role in exploiting the existing potential.
