Pink Himalayan Salt has been gaining popularity among consumers worldwide due to its unique taste and numerous health benefits. With its geographical monopoly of the resource, Pakistan has huge reserves of Pink Salt with a potential earning of $12 billion annually.
In a recent development, US company Miracle Saltworks Collective Inc. (MSCI) has announced plans to invest nearly $200 million in curating, processing, distributing, and importing Pink Himalayan Salt from Pakistan.
The investment will be made in preparing feasibility, reserve reports, upgradation of mining procedures and processes, construction of world-class processing and packaging facilities, and community development programs. Here's all you need to know about the investment plan and its potential impact.
Pink Himalayan Salt: A Lucrative Resource for Pakistan
Pink Himalayan Salt is a unique rock salt found only in the Khewra Salt Mine in Pakistan. It is believed to be one of the purest salts in the world and is rich in minerals such as calcium, magnesium, and potassium.
Due to its unique taste and health benefits, Pink Himalayan Salt has gained immense popularity among consumers worldwide in recent years. Pakistan has a geographical monopoly on the resource and is home to the world's second-largest salt mines, with an estimated 22.22 billion tons of natural resources.
Huge Potential for Economic Activity
The investment by MSCI in Pink Himalayan Salt is expected to kick-start massive economic activity in Pakistan. With a potential earning of $12 billion annually, the resource can provide a significant boost to the country's economy. The investment will also create employment opportunities and improve the livelihoods of people in the region.
Public-Private Partnership to Exploit Existing Potential
MSCI 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 the private sector to take a lead role in exploiting the existing potential. The company was also undertaking a joint venture with Pakistan Mineral Development Corporation.
Establishing World-Class Processing and Distribution Facilities
MSCI plans to raise market awareness globally and reach 10 million tons of verified extraction by 2030. To fulfill the global demand for Pakistani Pink Himalayan Salt, two world-class processing and distribution facilities would be established in Doha and China.
Facilitation of International Investors
Pakistan's Ambassador to the United States Masood Khan welcomed MSCI's interest in making investments and promoting Pink Salt. He said that the government was 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.
The ambassador assured the leadership of Miracle Saltworks of every possible support of the embassy in facilitating early finalization and implementation of their business plan in the country.
