Brief
Punjab chief minister launches Rs 5 billion pink‑salt financing scheme
The scheme offers up to Rs 50 million per business, with the province covering Rs 1.456 bn in interest costs.
By Felo News Desk · Published
Punjab Chief Minister Maryam Nawaz Sharif inaugurated the province’s first Pink Salt Value‑Addition Financing Scheme on Thursday, distributing interest‑free loan cheques to ten entrepreneurs. Provincial Mines and Minerals Minister Sher Ali Gorchani and Secretary Minerals Parvez Butt briefed reporters that the programme carries a Rs 5 billion allocation, with individual firms eligible for up to Rs 50 million.
The government will shoulder Rs 1.456 billion in interest costs, while a 110‑acre processing unit in Quaidabad serves as a specialised industrial cluster. Officials said the Pink Salt Mineral Processing Zone plans to host 200 value‑addition units and generate more than 10,000 jobs, potentially raising annual pink‑salt exports by up to $300 million.
Chief Minister Nawaz emphasized that Pakistan should export branded pink‑salt products rather than raw material, describing the mineral as a national asset. She warned that past contracts had allegedly favoured political interests, costing the exchequer, and urged that Punjab’s resources benefit its people.
During the event, Nawaz met European Parliament member Mary Fatima Khan Holch, who praised Punjab’s public‑welfare projects and the Minority Card initiative. Nawaz highlighted the EU as Pakistan’s second‑largest trading partner and congratulated China on the 77th anniversary of the People’s Republic, sending best wishes to President Xi Jinping.
Key facts
- The Pink Salt Value‑Addition Financing Scheme is funded with Rs 5 billion. (dailytimes.com.pk)
- Businesses can receive interest‑free loans of up to Rs 50 million. (dailytimes.com.pk)
- Punjab will cover Rs 1.456 billion in interest costs. (dailytimes.com.pk)
- The Quaidabad processing zone aims to host 200 units and create over 10,000 jobs. (dailytimes.com.pk)
- Officials estimate the scheme could boost pink‑salt exports by up to $300 million annually. (dailytimes.com.pk)
Sources
- [1] dailytimes.com.pk — originally reported as “Punjab CM launches Rs 5bn scheme for pink salt products”
