ISLAMABAD: Prime Minister Imran Khan on Friday called on relevant authorities to take measures to fully exploit the potential for export diversification in the salt and pharmaceutical sectors.
Presiding over a meeting of the National Export Development Council, the prime minister said the government is focused on creating a favorable business environment in the country to strengthen the economy and increase employment opportunities.
The Prime Minister stressed that the business world should adopt modern technologies to achieve maximum added value.
Solar salt project aims to increase exports by $ 400 million in 2023
The meeting was attended by Minister of Finance Shaukat Tareen, Minister of Industries and Production Khusro Bakhtyar, Trade Advisor Abdul Razak Dawood, Special Assistant to the Prime Minister (SAPM) on Health Dr Faisal Sultan, SAPM on political communication Dr Shahbaz Gill, Pakistan Medicines Regulatory Authority (DRAP) CEO Asim Rauf, representatives of the pharmaceutical and salt sectors and senior officials.
Prime Minister Khan was briefed on the potential for export diversification, especially in the salt and pharmaceutical sectors. He was informed that Pakistan is blessed with all types of salt available in the world including rock salt, sea salt and lake salt.
With a reserve size of 6.2 billion tonnes, the Khewra Salt Mine is the second largest salt chain in the world. Pakistan also has sea salt reserves along 1,050 kilometers of coastline.
Almost 60 percent of the 350 million tonnes of salt consumed worldwide comes from the chemical industry.
Pakistan’s current annual salt production is 4 million tons, while only 0.3 million tons are exported annually.
The government of Balochistan and Hub Salt have launched a new solar salt project to tap Pakistan’s enormous salt export potential. This new solar salt project will be the largest saltworks facility in the world and will increase salt exports by $ 400 million in 2023 and continue to grow by $ 200 million per year in subsequent years.
In addition, it has been said that Pakistan’s pharmaceutical exports are currently worth $ 275 million with growth potential of $ 74.3 billion. This growth potential can be realized by investing in machinery and equipment, streamlining the Pakistani drug registration process, entering into joint ventures with reputable multinational companies, and appointing sales and marketing teams in the markets. international organizations to strengthen the brand.
Posted in Dawn, le 2 October 2021