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Mineral sector achieving new development goals under SIFC: PM

President Alvi says Pakistan desires joint ventures, partnerships with foreign firms for economic uplift

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday said that Pakistan’s mineral sector, valued in billions of dollars, was achieving new heights of development under the Special Investment Facilitation Council (SIFC).

He was talking to a delegation of Miracle Salt Collective Inc that called on the caretaker prime minister.

During the meeting, the prime minister hoped that the salt export from the country would increase after the signing of the joint venture between Pakistan Mineral Development Corporation (PMDC) and Miracle Salt. He said it will also further strengthen the trade ties with the United States, the official news agency reported.

“This joint venture is a manifestation of the fact that Pakistan has the most suitable destination for foreign investment,” he added.

He said Himalayan pink salt was the identity of Pakistan all over the world and its export in international markets will be a welcome sign.

The PM said during its short tenure, the caretaker government took several steps to promote foreign direct investment and to facilitate the businesses in the country which yielded positive results.

The delegation of Miracle Salt thanked the government, especially the Special Investment Facilitation Council, for its cooperation with the company. They told the prime minister that after the formation of the company in Pakistan, it will be listed on major stock exchanges around the world, which will benefit the Government of Pakistan and local investors.

The delegation also apprised the prime minister of the plan of action prepared regarding economic improvement, education and health, and employment provision of the local population in the salt mining areas.

Meanwhile, President Dr Arif Alvi on Wednesday said that Pakistan desired to build mutually beneficial partnerships with foreign firms by building joint ventures and attracting foreign investment in multiple sectors.

The president, in a meeting with a delegation of Miracle Salt Collective Inc, said Pakistan was fully focused on boosting its exports to improve its economic condition.

In the meeting, the president was briefed on the company’s performance in salt mining, processing and marketing.

President Alvi said that Pakistan could make valuable addition to its salt products through better processing, packaging and marketing.

Reaffirming the government’s commitment to facilitate investors, the president appreciated Miracle Salt Collective Inc for its investment in Pakistan as well as its joint venture agreement with the Pakistan Mineral Development Corporation.

The delegation members apprised the president of the potential of Pakistan’s salt mines to earn foreign exchange, saying that Pakistan was the only country rich in mineral salt that was also high in quality and low in price.

The delegation viewed that Pakistan could take advantage of the huge salt market across the world by ensuring value addition through responsible mining, processing and marketing.

It was told that the company would invest in the salt mining sector of Pakistan and would utilise modern technology for mining and processing to ensure minimum wastage during the processes.

President Alvi also emphasised the promotion of environment-friendly and responsible mining in the country.

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