Utilisation of resources will lead to a stable Pakistan: PM

F.P. Report

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Tuesday reassuring the government’s all-out support to the investors, said the 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 the export purposes.

Managing Director of the PMDC Asad Ahmed and President of Miracle Saltworks Collective Inc Ahmed Nadeem Khan signed the agreement that was witnessed by the Prime Minister Kakar, Energy Minister Muhamamd Ali and relevant senior authorities. The prime minister said the practice of exporting raw materials should come to an end as the export of the products after value addition was direly needed.

“This is the path for Pakistan. This is the right step. We will be exporting the quality product in the coming days. Pakistan will get rightful branding for its product. This will pave the way for further opportunities,” the prime minister remarked who also distributed awards among the individuals who played a key role in the joint venture agreement. Calling the US a “most valued” trading partner of Pakistan, he said the agreement symbolized 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 in Pakistan was a resounding vote of confidence in the government’s economic policies. Prime Minister Kakar said the investment was not just about the pink salt rather it was about trust, partnership and shared prosperity.

He told the gathering that the Special Investment Facilitation Council (SIFC) was playing an important role in creating an enabling environment for foreign direct investment. It served as a one-window facility for the investors besides streamlining processes and removing the bureaucratic hurdles to attract investment in the fields mining, energy, IT, agriculture, livestock, industry and tourism, he added.

The prime minister lauded the friendship of the American people calling them the “most warm and generous” people on earth with openness and liberal values which was a role model for a thriving economy. He said Pakistan was not rich for its geostrategic location rather it was a geoeconomic offer as the country sat on the Tethyan Belt of 2800sq km filled with immense mineral resources.

Earlier, Energy Minister Muhammad Ali said the agreement was the beginning of a long journey that would boost the investors’ confidence. He said Pakistan had tremendous potential in the mineral sector and the government was committed, focused and had prioritized the sector to exploit the potential through more investment in the pink salt sector.

PMDC Chairman Shamsuddin lauded the SIFC’s role which led to surge in PMDC’s profit by three to four times comparing last year. He said the PMDC’s geologists were actively moving around for exploration purposes and hoped that the number of mining leases would continue to grow. Shamsuddin called for further empowerment of the SIFC, strengthening of the Geological Survey of Pakistan besides providing security to miners, and amending the rules to streamline the processes. Managing Director of PMDC Engineer Asad Ahmed said the agreement represented the culmination of excessive collaboration between the partners and thanked the petroleum ministry and SIFC for effective coordination.

Chief Communications Officer of the Miracle Saltworks Collective Inc Mubarak Khan called the agreement the beginning of a great journey and a great opportunity for Pakistan as the pink salt would act as an ambassador at millions of homes internationally. Executive VP and Chief Financial Officer Miracle Saltworks Collective Inc said the project would lead to global monetisation of Pakistan’s mineral resources which was one of the richest countries with huve mineral resources.