Punjab Chief Minister (CM) Maryam Nawaz has announced interest-free loans of up to Rs50 million for pink salt value addition on Thursday.
Speaking at an event for the Pink Salt Value Addition Financing Scheme, she said that pink salt is a valuable natural resource of Pakistan.
She added that better processing of the salt could help increase the country’s foreign exchange earnings.
How will the loans be provided?
The loans will be given for a period of five years. Borrowers will also get a three-month grace period. They will not have to make any payments during the first three months.
Where will the special estate be set up?
CM Maryam said that a special estate is being set up in Quaidabad for pink salt processing. The project will help turn the raw mineral into higher-value products.
She said that Punjab has many natural resources and there is a need to make better use of them.
The CM said that Pakistan has large pink salt reserves. However, the country has not received the full economic benefit from this resource.
She said other countries have been buying Pakistani salt at low prices. They then process it and earn millions of dollars from its sale in international markets.
In many cases, buyers do not even know that the salt originally came from Pakistan.
How could pink salt help create business?
CM Maryam said that pink salt is sold at high prices in Gulf and European markets. However, Pakistan has not been able to get its full value because of limited value addition.
She said better processing of pink salt could create more business opportunities in Pakistan. It could also help increase foreign exchange earnings and support the local economy.
Recently, CM Maryam said that Punjab has huge potential for tourism and that her government is using available resources to promote the sector.
In her message on World Tourism Day, she paid tribute to people working to promote tourism. She said travelling helps people explore the world, discover new places and appreciate its beauty.
