Lahore: Punjab Chief Minister Maryam Nawaz has launched the Pink Salt Value Addition Financing Scheme and announced a 110-acre mineral processing zone near Quaidabad. The initiative aims to promote exports, encourage investment and create new employment opportunities.
During the briefing at the inauguration ceremony, it was informed that more than 200 industrial units will be established in the proposed processing zone, where an investment of about 150 million is expected, which will create direct employment opportunities for 10,000 people. A business facilitation center and model retail outlets will also be established for the convenience of investors.
According to the briefing, new investors will be able to get interest-free loans ranging from Rs 5 million to Rs 50 million for processing, grinding, refining, cleaning and packaging of pink salt, while the loan repayment period has been set at 5 years.
Officials said that up to $ 300 million in foreign exchange can be earned annually from the value addition of pink salt. In the first phase, the bid for pink salt reached Rs 471 million, while in the second phase, offers worth Rs 2.5 billion have been received so far. The transfer of lease and license auctions to a digital system in the Mines and Minerals Department has also significantly increased revenue.
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Addressing the ceremony, Chief Minister Maryam Nawaz Sharif said that the Chief Minister Pink Salt Value Addition Financing Scheme will create new employment opportunities, increase revenue and promote global exports of pink salt.
He said that through value addition, it will be possible to significantly increase the exports of pink salt packaging, processing and decoration products, ‘Now ‘Made in Pakistan’ will be written on pink salt.’
He said that natural resources are the trust of the nation and they will be protected with full integrity, Allah Almighty has blessed Punjab with the best pink salt reserves in the world and Pakistan’s pink salt holds a prominent position worldwide due to its unique mineral components and high quality.
The Chief Minister invited investors to submit online applications on the website of the Mines and Minerals Department https://pinksalt.punjab.gov.pk.
