ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar, while reassuring investors of the government’s full support, said on Tuesday that effective utilisation of human as well as mineral resources would lead to a stable, prosperous and rising Pakistan.

“Our human resource is more important than our mineral resource. The human resource coupled with the mineral resource will lead to a stable, prosperous and rising Pakistan,” the prime minister said while speaking at the signing ceremony of a joint venture agreement between Pakistan Mineral Development Corporation (PMDC) and the US-based Miracle Saltworks Collective Inc for establishing a facility for crushing and packaging of pink salt for export purposes.

Managing Director of PMDC Asad Ahmed and President of Miracle Saltworks Collective Inc Ahmed Nadeem Khan signed the agreement. The prime minister said that the practice of exporting raw materials should now come to an end as the export of the products after value addition was direly needed.

“This is the path for Pakistan. This is the right step. We will be exporting the quality product in the coming days. Pakistan will get rightful branding for its product. This will pave the way for further opportunities,” the prime minister said.

Mr Kakar also distributed awards among individuals who played a key role in the joint venture agreement.

Joint venture agreement signed with US firm for crushing and packaging of pink salt for export purposes

Calling the US the “most valued” trading partner of Pakistan, the prime minister said the agreement symbolised the investment climate in the country, which would further strengthen the friendship between the two countries and the people.

He said the decision of the US-based firm to invest $200 million in Pakistan was a resounding vote of confidence in the government’s economic policies.

The prime minister said the investment was not just about pink salt, rather it was about the trust, partnership and shared prosperity.

He told the gathering that the Special Investment Facilitation Council (SIFC) was playing an important role in creating an enabling environment for foreign direct investment.

It serves as a one-window facility for all investors and removing all bureaucratic hurdles to attract investment in mining, energy, IT, agriculture, livestock, industry and tourism sectors, the prime minister said.

Mr Kakar lauded the friendship of the American people, calling them the “warmest and most generous” people on earth with openness and liberal values which was a role model for a thriving economy.

He said Pakistan was not rich for its geostrategic location, rather it was a geoeconomic offer as it sat on the Tethyan Belt of 2800sq kilometres filled with immense mineral resources.

Earlier, Energy Minister Muhammad Ali said the agreement was the beginning of a long journey that would boost investors’ confidence.

The minister said that Pakistan had tremendous potential in the mineral sector and the government was committed, focused and prioritised the sector to exploit this potential through more investment in the pink salt sector.

PMDC Chairman Shamsuddin lauded the SIFC’s role which led to surge in the PMDC’s profit by three to four times as compared to last year.

He said the PMDC’s geologists were actively moving around for exploration purposes and expressed the hope that the number of mining leases would continue to grow in future.

Mr Shamsuddin called for further empowerment of the SIFC, strengthening of the Geological Survey of Pakistan, providing security to miners and amending some rules and regulations to streamline the process.

PMDC Managing Director Asad Ahmed said the agreement represented the culmination of excessive collaboration between the partners and thanked the petroleum ministry and SIFC for effective coordination.

Chief Communications Officer of the Miracle Saltworks Collective, Mubarak Khan, called the agreement the beginning of a great journey and a huge opportunity for Pakistan as pink salt would act as an ambassador at millions of homes abroad.

Published in Dawn, February 21st, 2024