WASHINGTON: An American leading company in import, manufacture and supply of sea salt Miracle Saltworks Collective Incorporation says it is planning to invest nearly $200 million in curating, processing, distributing and importing Pink Himalayan Salt in Pakistan. This was stated during a briefing by top leadership of Miracle Saltworks Collective Inc. (MSCI) to Pakistan’s Ambassador to the United States Masood Khan in Washington.
It was informed that Pakistan, with its geographical monopoly of the resource, has huge reserves of Pink Salt with a potential earning of $12bn annually. The investment would be made in preparing feasibility, reserve report, up-gradation of mining procedures and processes, construction of world class processing and packaging facility and community development programmes.
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According to an estimate, the country possesses approximately 22.22 billion tons of the natural resource, concentrated mostly in Salt Range areas of Kala Bagh, Warcha, Khewra and Bahadur Khel, with an immense potential of kick-starting massive economic activity. The delegation includes President and CEO Ahmed N Khan, Vice President Tad M Ballantyne, CCO Muhammad M Khan, Director Jeffry Meilander, and others. It was informed that currently Pakistan was retaining 70 million dollars only in lieu of export of this unique natural resource due to lack of policy framework and adequate facilities for processing, packaging and world-wide distribution.
Ambassador Masood Khan welcomed MSCI’s interest in making investment and promoting Pink Salt industry in the country. He said the government is committed to facilitate international investors and business community intending to invest in traditional and non-traditional sectors of the economy. The Ambassador said that Pakistan due to its unique geostrategic location is poised to serve a vast market of Central and West Asia, Middle East and North Africa.
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