A US company is thinking about investing in Pakistan’s pink salt business.
WASHINGTON: Miracle Saltworks Collective Inc., a major American business, has told Masood Khan, the ambassador of Pakistan to the United States, that it plans to spend nearly $200 million to collect, process, distribute, and import pink Himalayan salt. This is according to The News Sunday.
Experts say that India makes billions of dollars every year by selling salt that it gets from Pakistan for $42 per ton and then exports.
They found out that there are no salt mines in the Himalayas and that India had been lying to the world about its salt.
A statement from Washington DC said that the money would be used to make a feasibility and reserve report, improve mining procedures and processes, build a world-class processing and packaging center, and fund community development programs.
During a meeting with the top leaders of Miracle Saltworks Collective Inc., it was said that Pakistan, which has a geographical monopoly on the resource, has huge amounts of pink salt that could bring in $12 billion per year.
An estimate says that the country has about 22.22 billion tons of the natural resource. Most of it is in the Salt Range areas of Kalabagh, Warcha, Khewra, and Bahadur Khel. The country has a huge potential to start a lot of economic activity with this resource.
It was said that Pakistan was only keeping $70 million from exporting this unique natural resource because it didn’t have the right policies and tools to process, package, and ship it all over the world.
The company’s president, Ahmed N. Khan, told the ambassador that a multi-pronged solution, including a public-private partnership under a clearly defined policy, was being worked out to help the government regulate the situation and encourage the private sector to take the lead in using the existing potential.
It was told that the company was working with Pakistan Mineral Development Corporation on a shared project. The company wants to get the word out about the market around the world and collect 10 million tons of verified oil by 2030. To meet the demand for Pakistani goods around the world, two processing and delivery centers of the highest quality would be built in Doha and China.
Ambassador Khan was happy to hear that the company wanted to invest and help the pink salt business in the country.
He said that the government was committed to making it easy for foreign investors and the business community to invest in both traditional and nontraditional areas of the economy.
The ambassador talked about the steps that have been taken to make it easier to do business and restore investor trust. He also said that Pakistan’s unique geostrategic location made it ready to serve a huge market in Central and West Asia, the Middle East, and North Africa.
He said that there was a big market for pink salt not just in the area but all over the world, which made it a good business idea.
The ambassador told the leaders of Miracle Saltworks Collective Inc. that the government would do everything it could to help them finish and start their business plan in the country as soon as possible.