Key Takeaways
- Chief Minister Punjab Maryam Nawaz launched a financing scheme to promote pink salt industry.
- The scheme aims to create 10,000 direct employment opportunities and generate USD300 million in annual foreign exchange earnings.
- Investors can apply for interest-free loans up to Rs50 million for processing and packaging of pink salt.
Chief Minister Punjab Maryam Nawaz has launched the Chief Minister Pink Salt Value Addition Financing Scheme, designed to boost the industry, create employment opportunities, and enhance exports. The scheme was officially inaugurated on Wednesday in Lahore.
During the launch ceremony, it was revealed that a 110-acre Pink Salt Mineral Processing Zone near Quaidabad would be established, attracting an investment of Rs150 million and creating 10,000 direct employment opportunities. This initiative is part of a broader strategy to value-add Punjab’s pink salt reserves.
The financing scheme offers interest-free loans ranging from Rs5 million to Rs50 million for various activities such as processing, grinding, refining, cleaning, and packaging. Investors can also apply for loans for the purchase of machinery, equipment, and export-standard technology with repayment over five years in easy instalments.
According to officials, bids worth Rs471 million were received in the first phase, while offers amounting to Rs2.5 billion had already been received in the second phase. This indicates a high level of interest from potential investors. The scheme also includes the establishment of a Business Facilitation Centre and a Model Retail Outlet to support investors.
The Chief Minister highlighted that value addition through this initiative could generate significant foreign exchange earnings, with an estimated USD300 million annually. She stated, 'Pink salt products will now carry the label “Made in Pakistan,” ensuring our natural resources are protected with complete honesty and responsibility.'
Maryam Nawaz further emphasized the importance of promoting industrialisation and exports based on Punjab’s pink salt reserves. She noted that the province is blessed with some of the world's finest pink salt reserves, which are internationally recognised for their quality and unique mineral composition.
The Mines and Minerals Department has also digitalised lease and licence auctions, leading to a significant increase in revenue. Investors can submit online applications through the department’s website at https://pinksalt.punjab.gov.pk.
'Pink salt products will now carry the label “Made in Pakistan,” ensuring our natural resources are protected with complete honesty and responsibility.'
CM Punjab Maryam Nawaz, Chief Minister of Punjab
