SARGODHA, Sep 22 (APP):An industrial estate was being established on 110 acres in Quaidabad through efforts of the Sargodha Chamber of Commerce and Industry (SCCI), with work on the project progressing rapidly said by President SCCI Khawaja Yasir Qayyum on Tuesday while speaking at a meeting of the SCCI during a visit by Mines and Minerals Department Punjab Secretary Pervez Iqbal. He said Quaidabad was home to one of Pakistan’s …
Industrial estate being established on 110 acres in Quaidabad: SCCI
SARGODHA, Sep 22 (APP):An industrial estate was being established on 110 acres in Quaidabad through efforts of the Sargodha Chamber of Commerce and Industry (SCCI), with work on the project progressing rapidly said by President SCCI Khawaja Yasir Qayyum on Tuesday while speaking at a meeting of the SCCI during a visit by Mines and Minerals Department Punjab Secretary Pervez Iqbal.
He said Quaidabad was home to one of Pakistan’s major salt mines, producing pink salt and providing employment opportunities to hundreds of families.
President Sargodha Chamber of Commerce and Industry (SCCI) Khawaja Yasir Qayyum said greater attention to the salt industry could help Pakistan earn substantial foreign exchange, adding that the proposed industrial estate would provide opportunities for local people to benefit from the region’s mineral resources and promote business activity in Sargodha Division.
Secretary Mines and Minerals Punjab Parvaiz Iqbal said the Punjab government was making serious efforts to promote exports of pink salt and increase foreign exchange earnings.
He said the government had allocated Rs5 billion in loans for promotion of industries at the proposed industrial estate.
The loans would be provided to entrepreneurs at zero markup, with individual applicants eligible for financing ranging from Rs5 million to Rs50 million.
Pervez Iqbal said a number of applications had been received, of which more than 18 had already been approved while others were under process.
He said Sargodha division was rich in mineral resources and had significant potential for development of the pink salt industry.
Value addition and export of pink salt from the Quaidabad industrial estate could generate substantial revenue, he added.
The meeting was attended by a large number of people associated with the mining and minerals sector.
Participants welcomed the government initiative and said the Pink Salt Value Addition Financing Scheme was offering small and medium enterprises zero-markup loans ranging from Rs5 million to Rs50 million for five years to acquire modern machinery, equipment and technology. They said applications could also be submitted online.
The Secretary Mines and Minerals Punjab appreciated the Sargodha Chamber of Commerce and Industry for its efforts towards regional development and congratulated President Khawaja Yasir Qayyum and his team for their role in promoting industrial and business activities in the region.
