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Sunday April 14, 2024

US company to invest Rs55.9bn to package pink salt

PMDC Managing Director Asad Ahmed and Miracle Saltworks Collective Inc President Ahmed Nadeem Khan signed the agreement

By APP
February 21, 2024
A Pakistani worker collects salt stones to be loaded onto a truck outside the Khewra salt mine. — AFP/File
A Pakistani worker collects salt stones to be loaded onto a truck outside the Khewra salt mine. — AFP/File

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Tuesday said 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 stable, prosperous and rising Pakistan,” he said addressing 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 dedicated facility for crushing and packaging of pink salt for export purposes.

PMDC Managing Director Asad Ahmed and Miracle Saltworks Collective Inc President Ahmed Nadeem Khan signed the agreement that was witnessed by the caretaker PM, energy minister and relevant authorities.

Calling the US a “most valued” trading partner of Pakistan, he said the agreement symbolised the investment climate in the country that 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 (PKR55.9 billion) in Pakistan was a resounding vote of confidence in the government’s economic policies.