US firm mulls investment in Pakistan's pink salt industry

• Miracle Saltworks Collective Inc plans to invest $200m Himalayan salt industry.
• India earns billions of dollars annually through exports of salt, imported from Pakistan.
• Experts say there is no salt mine in Himalayas and India is deceiving the world.

WASHINGTON: A leading American company, Miracle Saltworks Collective Inc., has informed Ambassador of Pakistan to the United States, Masood Khan, about its plan to invest nearly $200 million in curating, processing, distributing, and importing pink Himalayan salt, The News Sunday.

Experts said that India earns billions of dollars annually through exports of salt, imported from Pakistan at $42 per ton. 

They revealed that 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 programmes, the statement received from Washington DC read.

During a briefing to top leadership of Miracle Saltworks Collective Inc. 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 kickstarting massive economic activity. 

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, the company's 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.

It was informed that the company was undertaking a joint venture with Pakistan Mineral Development Corporation. The company plans to raise market awareness globally and reach 10 million tons of verified extraction by 2030. Two world class processing and distribution facilities would be established in Doha and China to fulfil global demand for Pakistani product.

Ambassador Khan welcomed the firm's interest in making investment and promoting pink salt industry in the country. 

He said the government was committed to providing every possible facilitation to international investors and business community intending to invest in traditional and non-traditional sectors of the economy.

Highlighting various steps taken for promoting ease of doing business and restoring confidence of the investors, the ambassador said that Pakistan, due to its unique geostrategic location, was poised to serve a vast market of Central and West Asia, Middle East and North Africa. 

He said that there was a huge market of pink salt not only in the region but across the world, which guaranteed profitable business venture in the sector. 

The ambassador assured the leadership of Miracle Saltworks Collective Inc. of every possible support of the embassy in facilitating early finalisation and implementation of their business plan in the country.