Caretaker PM vows to support foreign investors

Islamabad: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Tuesday expressed commitment to extend all possible support to investors to facilitate more Foreign Direct investment.

He was addressing the signing ceremony of a joint venture agreement between Pakistan Mineral Development Corporation and the US-based Miracle Saltworks Collective Incorporation to increase in the value of Himalayan Pink Salt and its export.

He said investment of two hundred million dollars in this project is reposing confidence in government's economic policies.

Anwaar ul Haq Kakar expressed resolve to utilize full potential of mining sector to accelerate economic growth.

He said the government has introduced comprehensive reforms to provide level playing field for investors with transparent regulations, streamlined procedures and robust legal frameworks.

Anwaar ul Haq Kakar also praised role of Special Investment Facilitation Council to create an enabling environment and facilitate foreign direct investment. 

Speaking on the occasion, Caretaker Minister for Energy Muhammad Ali said state of the art crushing and packaging plant will pave way for export and processing of pink salt.

He said Pakistan has over fifty billion tons reserves of pink salt, whereas only four million tons is being extracted.

The Minister said minerals currently contribute to one percent of the GDP and the target is to take this figure to roughly five percent in next five years.

Earlier, Managing Director of the Pakistan Mineral Development Corporation Asad Ahmed and President of US-based Miracle Saltworks Collective Inc Ahmed Nadeem Khan signed the agreement for value addition of Himalayan Pink Salt.

The ceremony was witnessed by the Prime Minister Anwaar-ul-Haq Kakar, Energy Minister Muhammad Ali and relevant senior authorities.