Chief Minister Punjab Maryam Nawaz Sharif on Thursday launched the province’s first Pink Salt Value Addition Financing Scheme and distributed cheques among 10 businesspersons who secured interest-free loans under the initiative.
Punjab Launches Rs5bn Pink Salt Financing Scheme
LAHORE, Oct 01 (APP): Chief Minister Punjab Maryam Nawaz Sharif on Thursday launched the province’s first Pink Salt Value Addition Financing Scheme and distributed cheques among 10 businesspersons who secured interest-free loans under the initiative.
The scheme has an allocation of Rs5 billion in interest-free loans, with individual businesses eligible for financing of up to Rs50 million. The Punjab government will bear Rs1.456 billion in interest costs under the scheme.
According to a briefing by Provincial Mines and Minerals Minister Sher Ali Gorchani and Secretary Minerals Parvez Butt, a specialised 110-acre Pink Salt Processing Unit has been established in Quaidabad. The Pink Salt Mineral Processing Zone is planned to house 200 value-addition units and create employment opportunities for more than 10,000 people.
The chief minister interacted with the beneficiaries and stressed the need to introduce value-added pink salt products in international markets under the Pakistani brand. She said Pakistan should export branded pink salt instead of merely supplying raw material to international markets.
“Pink salt is Pakistan’s uniqueness,” she said, adding that the country’s salt and labour are being used while other countries reaped the benefits.
CM Maryam Nawaz said pink salt is a national mineral asset and called for the development of value-added products for global markets. She said the government would support young entrepreneurs and startups under the financing scheme and facilitate their access to international markets.
Officials said value addition, branding and development of pink salt products could help increase annual exports by up to $300 million. A model retail outlet has also been established to promote pink salt branding, packaging, marketing and processing.
The chief minister said resources of Punjab should benefit the people of the province and recalled that contracts in the past had allegedly been awarded to benefit political individuals, causing losses to the national exchequer.
The businesspersons receiving the loans thanked the chief minister and termed the financing scheme a significant initiative of the Punjab government.
