In order to encourage foreign direct investment, Pakistan secured a $20 million agreement on Friday, marking a significant milestone in the country’s pink rock salt exports.
A Memorandum of Understanding (MoU) was signed between an American business and Pakistan Mineral Development Corporation (PMDC).
Asad Ahmed, the managing director of PMDC, and the CEO of the American company signed the MoU formally.Â
According to Ahmed, the global market for pink salt is worth a stunning $12 billion.
By exporting over 1.5 million tonnes of pink salt each year under its own brand name, Pakistan hopes to get access to this market.
A cutting-edge pink rock salt crushing and packaging factory will be built to help in this endeavour. The plant would be situated in the Special Economic Zone of the Mianwali district and will only be utilised for salt exports.
