In a move that is set to boost Pakistan’s economy, US company Miracle Saltworks Collective Inc. (MSCI) has announced plans to invest nearly $200 million in the curating, processing, distributing, and importing of Pink Himalayan Salt from Pakistan. This move will see the creation of a world-class processing and packaging facility, community development programs, and an upgrade of mining procedures and processes. According to MSCI’s President, Ahmed N. Khan, Pakistan has huge reserves of Pink Salt, with an estimated earning potential of $12 billion annually. In this article, we will delve deeper into MSCI’s investment and its implications for Pakistan’s economy.
The Potential of Pink Himalayan Salt
Pakistan has approximately 22.22 billion tons of Pink Himalayan Salt, which is mostly concentrated in the Salt Range areas of Kala Bagh, Warcha, Khewra, and Bahadur Khel. This abundance presents an immense potential for economic activity. MSCI’s investment aims to tap into this potential and establish Pakistan as a major player in the global salt market.
MSCI plans to undertake a multi-pronged solution featuring public-private partnership to exploit the existing potential. The company will work with Pakistan Mineral Development Corporation in this endeavor. The plan is to raise global market awareness of the product and reach 10 million tons of verified extraction by 2030.
To achieve this, two world-class processing and distribution facilities would be established in Doha and China. This will help MSCI to fulfill global demand for Pakistani Pink Himalayan Salt. These facilities will use state-of-the-art technology to ensure the salt is of the highest quality. They will also create jobs and contribute to the local economy.
The Pakistan government is committed to providing every possible facilitation to international investors and the business community intending to invest in traditional and non-traditional sectors of the economy. Ambassador Masood Khan welcomed MSCI’s interest in making investments and promoting Pink Salt. He assured the company of the embassy’s support in facilitating the early finalization and implementation of their business plan in the country.
MSCI’s investment in Pink Himalayan Salt from Pakistan has huge potential to boost the country’s economy. With the establishment of world-class processing and distribution facilities, creation of jobs, and community development programs, this investment will have far-reaching implications for Pakistan’s future. The country is poised to become a major player in the global salt market, and MSCI’s investment will help to make this a reality.