The Chief Minister of Punjab, Maryam Nawaz Sharif, has launched a Rs.5 billion interest-free financing scheme to promote value-added pink salt products and boost exports.
Under the Pink Salt Value Addition Financing Scheme, businesses can receive loans of up to Rs.50 million. The Punjab government will cover Rs1.456 billion in interest costs.
The chief minister distributed cheques to 10 beneficiaries and urged businesses to market branded Pakistani pink salt products internationally rather than exporting raw salt.
A 110-acre processing zone in Quaidabad is planned to accommodate 200 value-addition units and create more than 10,000 jobs.
Officials said improved processing, branding and packaging could increase annual pink salt exports by up to $300 million.
The chief minister of Punjab said Pakistan should export branded pink salt rather than merely supplying the international market with raw material.
“Pink salt is Pakistan’s uniqueness,” she said, adding that the country’s salt and labor were being used while other countries reaped the benefits.
She said pink salt was a national mineral asset and urged the development of value-added products for international markets.
The government, she added, would support young entrepreneurs and startups under the financing scheme and facilitate their access to global markets.
“Pakistan’s pink salt is like gold hidden in the mountains,” she said.
She also alleged that past contracts had benefited political individuals and caused losses to the national exchequer, without providing details.
The businesspersons who received the loans thanked the chief minister and termed the financing scheme a significant initiative of the Punjab government.
