PMDC, MSCI Sign Agreement For Enhancing Pink Salt Export: MD

Managing Director (MD) Pakistan Mineral Development Corporation (PMDC) Engr. Asad Ahmed said on Tuesday that PMDC and an American firm, Miracle Saltworks Collective Incorporation (MSCI) signed an agreement for the value addition of Himalayan Pink Salt to increase its exports

ISLAMABAD, (UrduPoint / Pakistan Point News - 20th Feb, 2024) Managing Director (MD) Pakistan Mineral Development Corporation (PMDC) Engr. Asad Ahmed said on Tuesday that PMDC and an American firm, Miracle Saltworks Collective Incorporation (MSCI) signed an agreement for the value addition of Himalayan Pink Salt to increase its exports.

Talking to media briefing along representative of the American firm, Miracle Saltworks Collective Incorporation here, the MD said the government was prioritizing the mineral sector to yield desirous results to bring change in the lifestyle of the local community. The Managing Director and President of Miracle Saltworks Collective Inc Ahmed Nadeem Khan signed the agreement.

He said the agreement represented the culmination of excessive collaboration between the partners and thanked the petroleum ministry and SIFC for effective coordination and cooperation.

Terming the signing agreement a great milestone, he said that a joint venture company would be constituted comprising on seven boards of directors as four from mineral salts and three from PMDC to complete flexibility report within nine months.

He said that PMDC and MSCI officials have formalized their partnership to establish a state-of-the-art Pink Rock Salt Crushing and Packaging facility dedicated in exporting salt-based products to international markets.

Asad Ahmed informed that the project is set to attract a significant foreign direct investment of 200 million Dollars, showcasing the confidence and enthusiasm of the international community in this groundbreaking venture.

Commercial production of 150,000 tonnes per annum is expected to be commenced from June, 2026, he added.

Beyond the economic impact of the collaboration, he said the initiative is expected to make a substantial contribution to the country’s foreign revenue, adding that MSCI in line with its commitment to corporate social responsibility (CSR), will actively engage in community development, health facilities, and women empowerment initiatives in the operational area.

He said this holistic approach aligns with the broader goals of social progress and economic growth, reflecting a dedication to inclusive and sustainable development. The practice of exporting raw materials should come to an end as the export of the products after value addition was direly needed, he added.

The MD said the event marks a historic moment in the pursuit of economic advancement and global recognition for Pakistan's Pink Rock Salt industry, signalling a new era of prosperity and collaboration.

Chief Communications Officer of the Miracle Saltworks Collective Inc Mubarak Khan called the agreement the beginning of a new journey and an amazing opportunity for Pakistan as the pink salt would act as an ambassador at millions of homes internationally.