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ISLAMABAD: Effective utilization of human and mineral resources will bring stability, prosperity and emergence of Pakistan, caretaker Prime Minister Anwarul Haq Kakar said on Tuesday while assuring investors of the government’s full support.
“Our human resources are more important than mineral resources. The combination of human resources and mineral resources will bring stability, prosperity and rise to Pakistan.” The Prime Minister said at the signing ceremony of the joint venture agreement between Pakistan Mining Development Corporation (PMDC) and Miracle Saltworks of the United States. Colective Inc has set up a pink salt crushing and packaging facility for export purposes.
PMDC Managing Director Asad Ahmed and Miracle Saltworks Collective Inc President Ahmed Nadeem Khan signed the agreement. The prime minister said the practice of exporting raw materials should be ended now as there is an urgent need to export value-added products.
“This is the path of Pakistan. This is the right step. We will export quality products in the coming days. Pakistan will get legitimate branding for its products. This will pave the way for further opportunities,” the prime minister said.
Mr. Kakar also presented awards to individuals who played key roles in the joint venture agreement.
Signs joint venture agreement with US company to crush and package pink salt for export
The prime minister called the United States Pakistan’s “most valuable” trading partner and said the agreement symbolized the country’s investment climate, which would further strengthen the friendship between the two countries and their peoples.
He said the American company’s decision to invest $200 million in Pakistan was a resounding vote of confidence in the economic policies of the Pakistani government.
The Prime Minister said this investment is not just for pink salt, but for trust, partnership and shared prosperity.
He told the meeting that the Special Investment Facilitation Committee (SIFC) plays an important role in creating a conducive environment for foreign direct investment.
The Prime Minister said it is a single window facility for all investors, removing all bureaucratic hurdles in attracting investments in mining, energy, information technology, agriculture, livestock, industry and tourism.
Mr. Kakkar praised the friendship of the American people, calling them the “most passionate and generous” people on earth, with values โโof openness and freedom and a role model for a prosperous economy.
He said Pakistan was not wealthy because of its geostrategic location but its geoeconomic advantages as it was situated in the 2,800 square kilometers of the Tethys belt, filled with rich mineral resources.
Earlier, Energy Minister Mohammad Ali said the agreement was the beginning of a long journey and would boost investor confidence.
The minister said that Pakistan has huge potential in the mineral industry and the government is committed to tapping this potential by focusing and prioritizing more investments in the pink salt industry.
PMDC Chairman Shamsuddin lauded SIFC’s role in increasing PMDC’s profit by three to four times compared to last year.
He said PMDC geologists were actively conducting exploration and expressed hope that the number of mining leases would continue to grow in the future.
Mr Shamsuddin called for further empowering the SIFC, strengthening the Geological Survey of Pakistan to provide safety to miners and amending some rules and regulations to streamline processes.
PMDC Managing Director Asad Ahmed said the agreement represents the pinnacle of excessive collaboration between the partners and thanked the Petroleum Ministry and SIFC for their effective coordination.
Miracle Saltworks Collective Chief Communications Officer Mubarak Khan termed the agreement as the beginning of a great journey and a huge opportunity for Pakistan as pink salt will act as an ambassador to millions of households abroad.
Published at dawn on February 21, 2024
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